Express, Inc. Aktie News

The operator of Express, Express Factory Outlets, Bonobos, and UpWest stores has filed Chapter 11.

With young consumers' fashion habits rapidly evolving alongside quickly changing social media trends, Express has not been able to keep up.

Express will permanently close the doors of over 100 stores across two of its brands, Express and UpWest. The bulk of the closures – 95 – will be Express.

Express, a multi-brand fashion retailer whose portfolio includes Express Express , Bonobos, and UpWest, has filed for Chapter 11 bankruptcy and intends to close more than 100 stores. The move, according to the company, is to better position Express for stronger growth in the future.

Express Inc. said Monday that it was closing 95 Express-branded stores as part of its bankruptcy plan.

Express filed for Chapter 11 bankruptcy protection on Monday. WHP Global sent Express a non-binding letter of intent to possibly buy a "substantial majority" of its operations.

Express announced that it received a non-binding letter of intent from a group led by WHP Global to potentially purchase the majority of its stores and operations.

Retailer and former meme stock Express (NYSE: EXPR ) just filed for Chapter 11 bankruptcy protection. EXPR stock traded for as much as $142 per share during the meme stock mania of early 2021.