Retailer Express Huddles With Lenders Over Restructuring Options
- Brand has struggled as consumers shift to ultra-fast fashion
- Company burned through more than $200 million in fiscal 2022
An Express clothing store in Plantation, Florida.
Photographer: Joe Raedle/Getty ImagesThis article is for subscribers only.
Express Inc., the chain retailer known for its moderately priced officewear and weekend basics, has been holding regular huddles with lenders to discuss its restructuring options, according to people with knowledge of the talks.
The meetings include close reviews of the company’s cash flows, which were deep into negative territory in the quarter that ended Oct. 28, said the people, who asked not to be named discussing private negotiations. The lenders are also discussing liquidity needs with the company, the people said.