Fashion retailer Express Inc. has filed for Chapter 11 bankruptcy in the United States and plans to shutter over 100 stores across the nation with going-out-of-business sales starting this week.
Express, known for its brands like Express, Bonobos, and UpWest, disclosed assets and liabilities ranging from $1 billion to $10 billion.
According to the official bankruptcy documents filed yesterday, the brand will be, “…conducting a sale of certain Merchandise and FF&E at the Merchant’s stores set forth on Exhibit A-1 (each a “Store” and collectively, the “Stores”) through a “Store Closing”, “Everything Must Go”, “Everything on Sale” or similar themed sale (the “Sale”).”
Included in the bankruptcy’s initial round of closings is the Express in Charlotte’s Northlake Mall and the one in Winston Salem’s Hanes mall.
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