Express, Inc., the fashion mall retailer, filed for Chapter 11 bankruptcy protection in the District of Delaware Bankruptcy Court, docket #24-10831 (KBO) on April 22, 2024.
This is the second retailer bankruptcy filing that our office has called since publishing our Retailers to Watch for a Possible Bankruptcy Filing in 2024 article, posted on March 1, 2024. That’s a batting average better that Yankee’s superstar Aaron Judge, so far this season.
According to Reuters, the retailer intends to close more than 100 stores. Express’ portfolio includes brands such as Express, Bonobos, and UpWest Express, all of which have listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the Bankruptcy Court.
Bloomberg reported that Express received and offer from WPH Global and mall landlord Simon Property Group Inc. and Brookfield Properties to purchase the operations/stores. Express is expected to sell the company in the bankruptcy.
If you are a landlord or trade creditor of Express or one of its other brands, it is important to know your rights now. Stark & Stark’s Shopping Center and Retail Development Group can help. Our bankruptcy attorneys regularly represent landlords throughout the country, including recently in the Eastern District of Missouri, District of New Jersey, Southern District of New York, District of Delaware, District of Minnesota and the Western and Eastern Districts of Pennsylvania regarding a variety of issues. Most recently, our Group has represented landlords and trade creditors in the Rite Aid, JOANN’s, Party City, David’s Bridal, Christmas Tree, Buyk, Tuesday Morning, Mattress Firm, Toys R Us, EMS, Golfsmith, RadioShack and Sports Authority chapter 11 bankruptcy cases.
For more information on how Stark & Stark can assist you, please contact shareholders Thomas Onder at (609) 219-7458 (tonder@stark-stark.com) or Joseph Lemkin at (609) 791-7022 (jlemkin@stark-stark.com).
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