Fashion brand Express closing more than 100 stores after filing for bankruptcy
(CNN)– Fashion retailer ‘Express’ has filed for bankruptcy and plans to close more than one hundred locations.
The company that operates Express, Express Factory Outlets, Bonobos, and UpWest.
Express has struggled to gain traction with consumers in recent years.
Business observers say it hasn’t adapted to the rise of casual wear and decline of formal and smart casual fashions.
Express says it has received 35 million dollars in new financing from existing lenders.
It also has a potential buyer for a majority of its retail stores and operations.
