Express Files for Chapter 11

American retailer, Express, filed for bankruptcy protection on April 22nd, and whilst discouraging for the retail industry, the writing’s been on the wall for quite some time now. The retailers will shut down 95 stores, as well as all of its UpWest locations. Its creditors are collectively owed an estimate of USD 70 million. Interestingly, none of the Bonobos stores are on the chopping block for now.

The pandemic resulted in much softer demand for business casual apparel, and the turbulent environment subsequently fueled the retailer’s popularity decline with consumers.

For more information on the demise of Express, click here.