Fashion retailer Express has filed for Chapter 11 bankruptcy and intends to close more than 100 stores.
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 on Monday.
As part of the bankruptcy process, the company will close approximately 95 Express retail stores and all of its 12 UpWest stores, starting on Tuesday. It did not specify which locations would be closing.
Launched in 1980, Express was once a destination for well-priced office attire but has been battling with soft consumer demand due to slowing spending and increased price sensitivity.