Express files for Chapter 11 bankruptcy protection, announces store closures, possible sale

Express Inc. has filed for Chapter 11 bankruptcy protection, as the fashion retailer looks to sell the majority of its stores. Columbus, Ohio-based Express, which is also the parent of Bonbons and Upwest brands, is shuttering a handful of its operations in the process. In an announcement Monday, the company said it planned to close 95 of its Express stores and all UpWest stores. Express also said that it received a non-binding letter of intent from a group led by WHP Global to potentially purchase the majority of its stores and operations. Express said it had filed for Chapter 11 protection to facilitate the proposed transaction.