Fashion retailer Express Inc. has filed for Chapter 11 bankruptcy in the United States and plans to shutter over 100 stores across the nation with going-out-of-business sales starting this week.
Express Inc, the parent company of brands like Express, ExpressMen, UpWest, and Bonobos, just disclosed a staggeringly high amount of liabilities ranging from $1 billion to $10 billion.
According to the newly filed bankruptcy documents, the brand will be, “…conducting a sale of certain Merchandise and FF&E at the Merchant’s stores set forth on Exhibit A-1 (each a “Store” and collectively, the “Stores”) through a “Store Closing”, “Everything Must Go”, “Everything on Sale” or similar themed sale (the “Sale”).”