Express Goes Bankrupt With Planned Sale to WHP, Store Closures
- WHP holds a 60% stake in Express brand following 2023 deal
- Retailer follows 99 Cents Only, Joann into bankruptcy
An Express clothing store is Plantation, Florida.
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Express Inc., the clothing retailer that’s a staple in US malls, filed for bankruptcy with plans to sell itself.
The company received an offer from brand manager WHP Global and mall landlords Simon Property Group Inc. and Brookfield Properties to purchase the company’s operations and most of its stores, according to a statement on Monday. The company will use the bankruptcy process to facilitate the sale.