If you are a fan of this Minnesota mall staple brand you might want to buy a few extra pairs of your favorite jeans or shirts. Multiple online news outlets are reporting that clothing retailer Express is nearing the brink of bankruptcy.

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The US Sun was the first online publication that I saw writing about the financial issues that the brand seems to be having.

Sun reported, "The publicly-traded company has nearly $280 million of debt amid declining sales."

Chief executive officer Stewart Glendinning said during an earnings call in November 2023 "We're actively adjusting our assortment architecture through a better balance in wearing occasion, price points, and a focus on more casual tops and bottoms."

If the company can't find a way to restructure its debt it might be forced to enter into Chapter 11 bankruptcy.

What's the difference between Chapter 7 and Chapter 11 Bankruptcy?

There are two common forms of business bankruptcy filings, Chapter 7 and Chapter 11. Chapter 7 is more commonly known as involving the liquidation of the company's assets, whereas Chapter 11 reorganizes them so the company can continue.

Investopdia.com has a great breakdown that goes into more specifics, but in general, businesses would prefer to be dealing with Chapter 11 than Chapter 7.

Is Express enters Chapter 11 will their stores stay open?

In general yes, most times consumers won't notice anything different when a business enters into bankruptcy proceedings. However sometimes when a business is moving assets around some stores could close to keep the rest of the stores/company open. Nothing has been reported on possible store closings at this time, so if you are a fan of Express you should be alright.

According to Yahoo! Finance "Express' shares, which were down about 59% in 2023, fell 23% to $2.85 in extended trading."

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