‘A domino effect’ mourns fan as Express begins going out of business sale at popular mall after announcing 95 closures | 6326T90 | 2024-05-01 17:08:01
'A domino effect' mourns fan as Express begins going out of business sale at popular mall after announcing 95 closures | 6326T90 | 2024-05-01 17:08:01
EXPRESS customers are preparing to say goodbye as the bankrupt chain getting ready to shut down nearly 100 stores.
The company recently announced its plans to shut down 95 locations.
The move followed its Chapter 11 bankruptcy filing.
It will also close all locations of UpWest Express, another brand it owns.
Clothing sales at the impacted stores began on April 23.
Discounts are reaching up to 70%.
Express "expects to conduct business as usual" at all of its remaining stores, it said in a press release.
Currently, there are about 530 Express locations.
Bonobos, which is also owned by Express, is not losing any stores.
A list of all the shutting locations has been reported by USA Today.
SHOPPER SHOCK
Customers nationwide have expressed their opinions on the closure.
Northlake Mall in Charlotte, North Carolina is one of the popular spots losing its Express.
<!-- End of Brightcove Player --> Discounts at that location are currently between 30% and 50% off, the U.S. Sun confirmed.
Several commented on a Facebook post about a closure made by ABC's local affiliate WSOC.
"The clothing business changes rapidly, and if a retailer doesn't keep up, they go out of business," one commenter said.
"Guess the edgy mid-life crisis crowd wised up on their overpriced clothes," another added.
Some locals were unbothered.
"So what?! I've never shopped there," one comment said.
"It's just a domino effect," another said.
RETAIL REELING
Express is not the only company facing a major selloff.
Rite Aid recently made waves with its bankruptcy filing in October.
With over 300 of its locations now closed, the company is finally close to exiting bankruptcy.
<p class="article__content--intro"> Bankruptcy is a specific legal process that helps companies eliminate debt they can't repay. </p> </div> </div> A California-based appliance retailer recently filed to shut down for good.
Pirch, a high-end furniture store closed all its showrooms "temporarily" before filing Chapter 7, a form of bankruptcy which takes a company out of business.
Red Lobster is considering whether to file bankruptcy.
Rite Aid is shutting another four locations.
More >> https://ift.tt/3X2D8WB Source: MAG NEWS
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