Express, a longtime mall staple, is forging ahead with plans to close dozens of stores this year after filing for Chapter 11 bankruptcy protection.
The Columbus, Ohio-based apparel seller said it planned to shut nearly 100 of is namesake brick-and-mortar locations, already kicking off going-out-of-business sales at those sites. The company wants to have that group of stores vacated by June 30.
Express is the latest addition to the list of retailers that have filed for Chapter 11 — or are slashing their store fleets without any bankruptcy proceedings — and are closing locations, a group that includes 99 Cents Only Stores.
Express store closings will occur coast to coast with most, 16 locations, in California, according to a list complied by Retail Specialists from bankruptcy documents. In New York state, for example, 11 Express stores are slated to go dark. In New Jersey, seven stores will be shuttered. Five Express locations each in Florida and Texas will close, and another four in Connecticut.
In addition to its namesake locations, Express said it plans to pull the plug on all its UpWest stores. As of March, Express had roughly 530 Express and Express Factory Outlet stores, about 60 Bonobos Guideshop locations, and 12 UpWest stores.
Express' fate is still to be determined. A group that includes two of its landlords, mall giants Simon Property Group and Brookfield Properties, are looking to acquire its retail locations and operations. That investor group is led by brand manager WHP Global, an Express stakeholder.