Express files for bankruptcy protection and announces store closures – check if your local is shutting down

Express Inc has filed for chapter 11 bankruptcy after failing to keep shoppers excited with new merchandise, bosses have said.

The retailer, based in Columbus, Ohio said on Monday that it is seeking to sell the majority of its stores.

The planned closures have been spread across 29 states plus Washington, D.C.

These planned closures will comprise 75 typical retail locations and 20 factory-outlet stores.

Closing down sales began yesterday, however Express Inc said it expects to operate the “business as usual”.

The store closings are expected to result in a “substantial number” of employee terminations, the company said.

In a statement they said: “To be clear, [Express intends] to pay [its] terminated employees as expeditiously as possible and under normal payment procedures.”

Under its corporate umbrella, Express Inc also includes Express factory outlets, Bonobos and UpWest stores.

With more than 500 stores, Express Inc continues to be a staple for many people’s wardrobes. The firm will continue to accept orders through each brand's online channels.

The retailer will also fulfil orders, process returns and redeem gift cards and store credits in-store.

Neil Saunders, managing director of GlobalData, said: “With the company struggling to gain traction with consumers, it has been obvious for quite some time that bankruptcy was the inevitable destination for Express.

“The woes at Express are not all of its own making. The formal and smart casual market for both men and women has softened over recent years because of a rise from working from home and the casualization of fashion.

“This puts Express firmly on the wrong side of trends and, in our view, the chain made too little effort to adapt.”

The retailer announced they had received a non-binding letter of intent to potentially purchase the majority of its stores and operations from WHP Global.

Express said that it had filed for Chapter 11 protection “to facilitate the sale process,” and make it easier for the consumer brand acquisition and management firm to make the sale.

Express said the consortium exploring the deal also includes mall operators Simon Property Group and Brookfield Properties.

WHP, Simon Property and Brookfield did not immediately respond to requests for comment Monday, when contacted by ABC.

Stewart Glendinning, Express Inc. CEO, said in a statement “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.”

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The company reported nearly $1.2 billion in total debts and $1.3 billion in total assets as of March 2 in its Chapter 11 petition, which was filed in U.S. Bankruptcy Court for the District of Delaware.

Express Inc had previously planned to lay off around 150 employees this year to help the company save $30million but this was only part of the the planned $120 million cost reduction effort.

These cost reduction measures were to begin in 2023 and continue into 2025.

However, by filing for bankruptcy, the company has the opportunity to restructure its operations including renegotiating its many lease agreements that will remain after the closure of some of its stores.

Initially a woman’s fashion brand, Express Inc expanded into men's clothing to appeal to more shoppers.

However, increasing competition from other popular fashion brands like H&M, Zara, as well as the rise of Old Navy and athleisure brands like Lululemon, all hurt the brand's sales, Saunders said.

Full list of stores closing down: