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 and that closing sales would begin Tuesday:
- Arizona: Chandler (Chandler Fashion)
- California: Downey (Stonewood), Moreno Valley (Moreno Valley), Valencia (Valencia Town Centr), San Diego (University Town Ctr), Sherman Oaks (Sherman Oaks Fash), Emeryville (Bay Street), Santa Ana (Mainplace Mall), Cerritos (Los Cerritos), San Diego (Mission Valley), Montclair (Montclair Plaza), Escondido (North County Fair), Santa Clara (Valley Fair Mall), National City (Plaza Bonita), Fresno (Fresno Fashion Fair), Thousand Oaks (The Oaks), Lakewood (Lakewood)
- Colorado: Denver (Denver Pavilions), Broomfield (Flatiron Crossing), Loveland (Shops At Centerra)
- Connecticut: Danbury (Danbury Fair), Manchester (Buckland Hills), Westport (Main Street-Westport), Greenwich (Greenwich Avenue)
- Florida: Tampa (Citrus Park Twn Ctr), Clearwater (Countryside Mall), Miami (Bayside), Aventura (Aventura Mall), Miami Beach (Lincoln Road)
- Georgia: Atlanta (Atlanta Station), Kennesaw (Town Center At Cobb), Alpharetta (North Point), Commerce (Commerce Outlets)
- Hawaii: Honolulu (Pearlridge)
- Illinois: Lincolnwood (Lincolnwood Twn Ctr), Fairview Heights (St. Clair Square), Chicago (West Diversey Street, State Street)
- Indiana: Merrillville (Southlake Mall), Evansville (Eastland Mall)
- Iowa: Williamsburg (Williamsburg), Cedar Rapids (Lindale), Davenport (Northpark)
- Louisiana: Bossier City (Louisiana Boardwalk)
- Maryland: Wheaton (Wheaton), Baltimore (White Marsh), Salisbury (Centre At Salisbury)
- Massachusetts: North Dartmouth (North Dartmouth), Boston (Newbury Street), Dorchester (South Bay)
- Michigan: Sterling Heights (Lakeside), Portage (Crossroads Mall)
- Minnesota: Saint Cloud (Crossroads Center)
- Missouri: Kansas City (Zona Rosa)
- Nebraska: Lincoln (Westfield Gateway)
- Nevada: Henderson (Galleria At Sunset),
- New Hampshire: North Conway (Settlers Green)
- New Jersey: Paramus (Garden State), Woodbridge (Woodbridge), Freehold (Freehold Raceway), Deptford Township (Deptford Ma II), Mays Landing (Mall At Hamilton Cr), Livingston (Livingston Mall), Moorestown (Moorestown)
- New York: Brooklyn (Kings Plaza, Fulton Street), Bayshore (Southshore), Valley Stream (Green Acres Mall), Yonkers (Cross County), Bayside (Bay Terrace), Oceanside (The Sands), New Hartford (Sangertown Square), New York (Times Square, Broadway-Soho, Flatiron (Fifth Avenue))
- North Carolina: Winston Salem (Hanes Mall), Charlotte (NC Northlake)
- Ohio: Toledo (Franklin Park), Liberty Township (Liberty Center)
- Pennsylvania: Philadelphia (Fashion District Phili, Walnut Street)
- Rhode Island: Warwick (Warwick)
- Tennessee: Franklin (Cool Springs)
- Texas: Corpus Christi (La Palmera), Dallas (Dallas Galleria), San Antonio (Rolling Oaks), College Station( Post Oak), Cedar Hill (Hillside Village)
- Virginia: Sterling (Dulles Town Center), Roanoke (Valley View Mall)
- Washington, D.C.: FStreet
- Washington: Spokane (Northtown), Vancouver (Vancouver)
- Wisconsin: Madison (EastTowne Mall), Baraboo (Outlets At The Dells)
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."
Express bankruptcy
Express joins a handful of retailers filing for Chapter 11 so far this year, including fabrics and craft retailer Joann.
And analysts expect the pace of bankruptcy filings this year to be around the same level — close to 24 — as last year, as shoppers hobbled by high consumer debt remain cautious, according to accounting and advisory firm BDO, which tracks retail bankruptcies.
In 2022, only five retailers filed for bankruptcy protection, according to BDO.
The number appeared to indicate a recovery from the pandemic-induced store closures that pushed struggling companies over the edge in 2020, when retail bankruptcies spiked to 35 from 21 the year before, BDO said.
This story was reported from Detroit. The Associated Press contributed.