Express currently operates 600 stores across its Express, Bonobos, and UpWest brands. The bankruptcy proceedings include a request to close 95 Express stores and all UpWest locations as the company evaluates its physical footprint. Options to close additional stores in the future are also being considered. The liquidation efforts will be managed by Hilco Merchant Resources, as outlined in court documents.
The remaining Express stores are expected to transition to the new ownership under the proposed deal with WHP Global, which includes partnerships with affiliates of Simon Property Group LP and Brookfield Properties.
Express Files for Bankruptcy : Legal and Financial Advisory Teams
To navigate through its bankruptcy and restructuring, Express has enlisted a robust team of advisors. Legal guidance is being provided by Kirkland & Ellis LLP, with Joshua A. Sussberg and team leading the efforts. Moelis & Company Inc. and M3 Partners LP are serving as investment banker and financial advisor, respectively.
