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Retailer Express files petition for Chapter 11 [Video]

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Home Based Business

Apparel retailer Express Inc. on Monday filed for Chapter 11 bankruptcy protection.

Express said in a press release that it was “continuing to serve customers in stores and online across its Express, Bonobos and UpWest Brads and expects to conduct business as usual as the company works to right-size its lease portfolio and operations.”

Brand management firm WHP Global and others on Monday sent Express a non-binding letter of intent to possibly buy a “substantial majority” of its operations. The bankruptcy filing is supposed to help that process, according to the retailer.

“We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives,” Express CEO Stewart Glendinning said. “WHP has been a strong partner to the company since 2023, and the proposed transaction will provide us with additional financial resources, better position the business for profitable growth and maximize value for our shareholders.”

WHP Global, which owns Toys “R” Us and fashion …

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