Posted on 04/22/2024 6:12:50 PM PDT by george76
Fashion retailer Express filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday.
The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the bankruptcy court in Delaware.
...
As part of the bankruptcy process, the company will close approximately 95 Express retail stores and all of its UpWest stores, starting Tuesday, it said, without specifying the locations.
(Excerpt) Read more at reuters.com ...
Express switched gears, tried to market only to the original Abercrombie and Fitch clientele - young, skinny, fashion forward customers. Bad move. Longtime customers couldn’t find their sizes, styles, migrated to other labels.
“The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the bankruptcy court in Delaware”
Pretty sure that assets and liabilities are not the same thing. So why the gobbly gook mix in this article? Bottom line somebody is screwed and I have a feeling I know who it will be when it all comes out in the wash.
They did not choose wisely so are suffering the result. First rule is if it isn’t broken, don’t fix it.
Businesses have always come and gone.
1B to 10B?
Is NY going to sue them for overstating their value?
Nope.
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