Express Inc — once a trendsetter of casual office attire that has struggled to compete with the likes of Zara and H&M — has filed for Chapter 11 bankruptcy protection.
NEW YORK — Express Inc — once a trendsetter of casual office attire that has struggled to compete with the likes of Zara and H&M — has filed for Chapter 11 bankruptcy protection.
Closing sales at locations being shut down, which span across more than 30 states and Washington, D.C., are set to begin Tuesday. Beyond these closures, Express said that it expects to conduct business as usual. Express CEO Stewart Glendinning said WHP “has been a strong partner” of the company’s since 2023 — adding that the proposed transaction would give Express additional financial resources and put it in a better position to grow profitably while maximizing value for stakeholders.
The company first started as a women’s fashion purveyor and then branched out to men’s wear. It offered must-have items, like denim dresses for those looking for trendy outfits in the workplace, at affordable prices. Express joins a handful of retailers filing for Chapter 11 so far this year, including fabrics and craft retailer Joann. And analysts expect the pace of bankruptcy filings this year to be around the same level — close to 24 — as last year, as shoppers hobbled by high consumer debt remain cautious, according to accounting and advisory firm BDO, which tracks retail bankruptcies.
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