Express Inc. Announces Closure of Over 100 Stores Amid Chapter 11 Bankruptcy Filing
Guam News Factor- Retail giant Express Inc. has made the difficult decision to permanently close over 100 stores across its brands as part of its larger announcement of filing for Chapter 11 bankruptcy. The company has requested the U.S. Bankruptcy Court to combine its case with certain subsidiaries seeking protection during this challenging time.
Express plans to continue operating its Express, Bonobos, and UpWest brands online, but the closures will primarily impact its Express brand, with 95 stores set to shut down. The company cites a challenging commercial environment in recent years as the reason behind the closures and has mentioned that it is assessing its store footprint as part of the bankruptcy process.
WHP Global and other interested parties have expressed their desire to purchase a majority of Express’s assets, indicating that there may be hope for the struggling retailer. The closures will affect 30 states and Washington, D.C., with 95 Express stores and 10 UpWest stores set to shut their doors.
UpWest, a brand created by Express Inc. in 2019, will also see closures in eight states and Washington, D.C. Despite this setback, Express remains optimistic about its future and hopes to emerge from this bankruptcy process stronger and more resilient than before. Stay tuned to Guam News Factor for more updates on this developing story.
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