Major Clothing Retailer To Close 16 CA Stores Amid Bankruptcy Filing

CALIFORNIA — Clothing retailer Express is set to close 16 California stores following its recent bankruptcy filing, the company announced Wednesday.

Express and its subsidiaries announced a voluntary Chapter 11 filing out of U.S. Bankruptcy Court for the District of Delaware Tuesday to "facilitate" a sale process. The Ohio-based company, founded in 1980, said it has received a non-binding letter of intent from a consortium led by WHP Global and participants including a wholly owned indirect subsidiary of Simon Property Group and
Brookfield Properties for the potential sale of a substantial majority of the company’s retail stores and operations.

At this time, 95 stores will close nationwide, including California locations in:

• Downey at 234 Stonewood St.
• Moreno Valley at 22500 Town Circle
• Valencia at 24201 Valencia Blvd.
• San Diego at 4485 La Jolla Village Dr.
• Sherman Oaks at 14006 Riverside Dr.
• Emeryville at 5680 Bay St.
• Santa Ana at 2800 N Main St.
• Cerritos at 224 Los Cerritos Center
• San Diego at 1640 Camino Del Rio N.
• Montclair at 2149 Montclair Plaza
• Escondido at 200 E Via Rancho Pkwy.
• Santa Clara at 2855 Stevens Creek Blvd.
• National City at 3030 Plaza Bonita Rd
• Fresno at 654 Shaw Ave.
• Thousand Oaks at 202 W Hillcrest Dr.
• Lakewood at 500 Lakewood Blvd.

The fate of the remaining 45 Express stores in the state is unknown at this time.

In a bankruptcy filing summary, Express officials said the company has received a commitment for $35 million in new financing from "certain of its existing lenders," subject to court approval. Additionally, on April 15, the Company received $49 million in cash from the Internal Revenue Service related to the CARES Act, according to the summary.

Express officials said stores are in "business-as-usual" mode as the company works "to right-size its lease portfolio and operations."

"We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations," said Stewart Glendinning, Express CEO, in a statement. "We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives."

Patch Staffer Eric DeGrechie contributed to this report.