Clothing retailer Express announced on Monday that it is filing for Chapter 11 bankruptcy and will close 95 of its locations throughout the U.S.
The company said those locations would begin having clearance sales Tuesday.
Additionally, Express announced that all five of its UpWest stores will close.
Express said a consortium led by WHP Global plans to buy a majority stake in the retailer as part of the bankruptcy process.
Express said that it has received $35 million in new financing from existing lenders, in addition to $49 million it received from the Internal Revenue Service through CARES Act funding.
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“We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations,” said Stewart Glendinning, Express CEO. “We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives. 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.”
Express said remaining locations will keep their existing hours of operation. Gift cards will continue to be honored and there will be no changes to the company's return policy.
Express operates over 500 locations throughout the U.S., including nearly 200 outlet stores.
Following is the list of stores closing, according to the company's bankruptcy filing.
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