Express files for bankruptcy, plans to close nearly 100 stores
Clothing brand Express has filed for Chapter 11 bankruptcy protection and plans to close nearly 100 stores amid restructuring plans.
In a news release on Monday, Express – which operates under the Express, Bonobos, and UpWest brands and stores – announced that it would close 95 Express locations, and all of its UpWest stores.
Store closing sales would begin as early as Tuesday, April 23, the brand said.
Any Express stores closing in Florida?
Yes. According to the filing, there are five Express stores set to close in Florida. Here is the list:
- Citrus Park Town Center, 8021 Citrus Park, Tampa
- Countryside Mall, 27001 U.S. Highway 19 N, Clearwater
- Bayside, 401 Biscayne Blvd., Miami
- Aventura Mall, 19501 Biscayne Blvd., Aventura
- Lincoln Road, 904 Lincoln Road, Miami Beach
According to Express' website, there are 29 Express stores and 17 Express Factory Outlet stores in Florida. It appears that the closest closure to Central Florida is Clearwater and Tampa.
UpWest has at least 10 locations across the United States, according to its website.
Express stores closing: See the full list
Here is the complete list of Express stores that are closing, according to the company's bankruptcy filing.
FULL LIST: All 95 Express stores set to close - State by State breaking
New buyer in the works for Express?
In a news release, Express said it filed for voluntary bankruptcy protection in Delaware after receiving a "non-binding letter of intent" from WHP Global, a subsidiary of Simon Property Group, and Brookfield Properties to purchase a majority of the brand's stores and operations.
"We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations," said Stewart Glendinning, Chief Executive Officer, in a prepared statement.
"We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives. WHP has been a strong partner to the Company since 2023, and the proposed transaction will provide us additional financial resources, better position the business for profitable growth and maximize value for our stakeholders."
When will closing sales begin at Express?
While the bankruptcy case moves through the court system, Express said all of its Express, Express Factory Outlet, Bonobos, and UpWest stores were open under normal hours.
Closing sales at the 95 Express stores would begin on April 23, 2024, the release said.