Express Closing 106 Stores as It Plans for Rebirth After Bankruptcy

But experts say the brand itself — once a mainstay of shoppers who wanted to look sharp as they entered the workforce — still has plenty of work to do as it seeks to find its place with today’s consumers. filed for Chapter 11 bankruptcy in the early hours on Monday with a letter of intent from a familiar suitor — Phoenix, which is a joint venture of brand management firm WHP Global and two of the retailer’s key landlords, Simon Property Group and Brookfield Properties.

Should Phoenix buy Express out of bankruptcy, the brand management firm is set to use it as a retail and operational arm for its business, which already includes Joseph Abboud, Joe’s Jeans, Isaac Mizrahi,, which owns the brands, and its SPARC joint venture, which holds the operating business. In the meantime, the company has started the process to close 106 stores and also hopes to spin off sustainability-minded UpWest business during the bankruptcy.Express — which along with Victoria’s Secret, Abercrombie & Fitch Co. and others was once owned by The Limited Brands — opened its first store in 1980.

“We have acted with urgency and accomplished a lot in a short period of time, and I am grateful for your efforts,” he said. “I also recognize that all of this change was not easy, but it was necessary to position our organization for the future.” “I don’t think it has an identity,” said Jessica Ramírez, senior research analyst at Jane Hali and Associates. “I don’t think it has a place that sits in the consumer’s mind. It’s just so far behind that it’s hard to even think of where it would sit.”“I don’t know who is , ‘Oh, let me go to Express,’” she said. “If it’s going to be wear-to-work or cute, just go out , you’ll think of Zara or you’ll think of off-price.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Express Is Closing Over 100 Stores After Bankruptcy FilingDigital destination for sophisticated men & women. Live your best life with expert tips and news on health, food, sex, relationships, fashion and lifestyle.
Source: BestLifeOnline - 🏆 533. / 51 Read more »

Express closing stores: NY, NJ and CT locations shuttering after bankruptcy announcementClothing brand Express announced the closure of 95 of its retail stores across the United States, including dozens in the Tri-State area.
Source: fox5ny - 🏆 587. / 51 Read more »

Express closing more than 100 stores after filing for bankruptcyThe company plans to close 95 Express locations (it operates more than 500 in the US) and all UpWest locations with closing sales at those stores set to begin on April 23.
Source: ABC7 - 🏆 67. / 68 Read more »

Express closing more than 100 stores after filing for bankruptcyThe company plans to close 95 Express locations (it operates more than 500 in the US) and all UpWest locations with closing sales at those stores set to begin on April 23.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Express closing more than 100 stores after filing for bankruptcyThe company plans to close 95 Express locations (it operates more than 500 in the US) and all UpWest locations with closing sales at those stores set to begin on April 23.
Source: 6abc - 🏆 250. / 63 Read more »

Express files for bankruptcy and will close more than 100 storesThe retailer hasn’t said which Express stores are closing yet, but closing sales start Tuesday. All 10 UpWest stores are closing.
Source: dallasnews - 🏆 18. / 71 Read more »