Express to close 4 Chicago area stores after filing for bankruptcy
CHICAGO (CBS) -- Four Express stores in the Chicago area will soon close, after the Ohio-based clothing retailer field for bankruptcy, and announced plans to close nearly 100 of its 500 locations.
In a statement, the company said closing sales will begin Tuesday at 95 of its stores, including all of its UpWest locations.
According to the company's bankruptcy court filings, the closings include the Express stores at 17 N. State St., in downtown Chicago, at 655 W. Diversey Pkwy. in Lincoln Park, at Lincolnwood Town Center shopping mall in Lincolnwood, and at Southlake Mall in Merrillville, Indiana.
Express reported approximately $1.2 billion in debt and $1.3 billion in assets as it filed for Chapter 11 bankruptcy protections in federal bankruptcy court in Delaware.
The company operates approximately 530 Express stores in the U.S. and Puerto Rico, roughly 60 Bonobos Guideshop stores, and a dozen UpWest stores, in addition to its online operations.