Express Inc. has filed for Chapter 11 bankruptcy protection, as the fashion retailer looks to sell the majority of its stores.
Express Inc. has filed for Chapter 11 bankruptcy protection, as the fashion retailer looks to sell of the majority of its stores.
Closing sales at these locations, which were not immediately specified, are set to begin April 23. Beyond these closures, Express said that it “expects to conduct business as usual.”that it received a non-binding letter of intent from a group led by WHP Global to potentially purchase the majority of its stores and operations. Express said that it had filed for Chapter 11 protection “to facilitate the sale process.
In a prepared statement, Express CEO Stewart Glendinning said that WHP"has been a strong partner” of the company's since 2023 — adding that the proposed transaction would give Express additional financial resources and “better position the business for profitable growth” while maximizing value for stakeholders.
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