Clothing Retailer Express, Declares Bankruptcy and Announces Plans To Shut Down Stores

On Monday, Express, a clothing retailer, declared that it will be filing for Chapter 11 bankruptcy and shutting down 95 of its stores across the United States.

The company announced that those locations will start holding clearance sales on Tuesday.

Furthermore, Express has declared the closure of all five of its UpWest retail locations.

According to Express, a team headed by WHP Global intends to acquire a controlling interest in the company as a step in the bankruptcy proceedings. They have obtained $35 million in fresh funding from their current creditors, on top of the $49 million they received from the Internal Revenue Service as part of the CARES Act funds.

According to Express CEO, Stewart Glendinning, significant advancements have been made in improving product assortments, increasing demand, engaging with customers, and enhancing operational capabilities. The company is now taking a crucial step to improve its financial standing and further drive business initiatives. WHP, a long-standing partner since 2023, will provide additional financial support, better positioning the company for profitable growth, and maximizing value for stakeholders through the proposed transaction.

The remaining locations will maintain their current hours of operation. The company will still accept gift cards and there will be no modifications to their return policy.

With a presence in over 500 places across the United States, Express has a wide reach, which includes close to 200 outlet stores.

From initial reports, it appears that only one store in Arizona will be closing. The Chandler Fashion Center Express store is on the list to close.  No final date has been set for it’s closure.

The company’s bankruptcy filing includes a list of stores that will be closing.