Express Files For Chapter 11 Bankruptcy

In a court filing, Express said that it had $1.3 billion in total assets and $1.2 billion in total debts as of March 2.

A longtime mall retailer has filed for Chapter 11 bankruptcy.

Express has reportedly failed to stay on trend and keep up with shifting consumer demand, which led sales to plummet in recent years.

In a court filing, Express said that it had $1.3 billion in total assets and $1.2 billion in total debts as of March 2.

The retailer said it filed for bankruptcy to “facilitate” a sale process of most of its retail stores and operations to an investor group. WHP Global is seeking to save express by acquiring most of its assets.