Express Inc. Declares Bankruptcy Amid Struggles

Express Inc., a prominent fashion retailer, has filed for bankruptcy, citing ongoing challenges with its merchandise assortment that failed to resonate with consumers, as per Parija Bhatnagar's report for CNN.

Express Inc. oversees various brands, including Express, Express factory outlets, Bonobos, and UpWest stores. I Photo: Express Facebook

The company submitted its bankruptcy petition to the Delaware bankruptcy court, intending to close several stores as part of its restructuring efforts.

Express Inc. oversees various brands, including Express, Express factory outlets, Bonobos, and UpWest stores. It disclosed plans to shutter 95 Express locations out of its 500-plus stores nationwide, alongside the closure of all UpWest outlets.

Liquidation sales at the affected stores are scheduled to commence on April 23.

Despite the bankruptcy filing, all online channels for Express Inc.'s brands will continue to operate, accepting orders and processing returns. The company assures customers that benefits tied to the Express Insider program will remain intact.

Neil Saunders, Managing Director of GlobalData, remarked that Express's struggles had been apparent for some time, indicating an inevitable path towards bankruptcy.