Express files for bankruptcy, announces store closures
FILE - The exterior of an Express clothing store is seen as the company announces it will close some stores on January 22, 2020 in Plantation, Florida. (Photo by Joe Raedle/Getty Images)
Express Inc. filed for Chapter 11 bankruptcy protection Monday.
The fashion retailer, which is based in Columbus, Ohio, reported nearly $1.2 billion in total debts and $1.3 billion in total assets in its Chapter 11 petition, which was filed in U.S. Bankruptcy Court for the District of Delaware.
According to Express’ website, the company currently operates about 530 Express retail and Express Factory Outlet stores in the United States and Puerto Rico.
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Which Express stores are closing?
In addition to announcing its bankruptcy filing, Express announced Monday that dozens of its retail stores would be closing.
Express said 95 stores will be closing. Exact locations were not yet specified, though Express said closing sales would begin Tuesday.
UpWest closing
Express is also the parent of Bonbons and UpWest brands.
Express said its 12 UpWest stores would be closing as well.
Beyond these closures, Express said that it "expects to conduct business as usual."
This story was reported from Detroit. The Associated Press contributed.