Published on 22 Apr 2024 on Sourcing Journal via Yahoo Finance
Express Inc. is now under bankruptcy court oversight.
The struggling specialty apparel chain filed its Chapter 11 petition for bankruptcy court protection on Monday in Delaware. Eleven affiliated firms also filed their respective Chapter 11 petitions. The bankruptcy filing was expected since earlier this year. Credit monitoring firm Creditsafe said at the time that late payments have been a consistent problem at Express, an indication of ongoing liquidity problems.