Consumer
Retailer Express Holds Talks for Bankruptcy Financing
- Brand has struggled as consumers shift to ultra-fast fashion
- Turnaround efforts so far failed to head off a cash crunch
Express shares have tumbled more than 80% this year, leaving it with a market capitalization of just $5.3 million against a debt load of nearly $300 million.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Retailer Express Inc. is asking its lenders for funds to help finance a potential Chapter 11 bankruptcy process, according to people with knowledge of the plans.
Express, which sells mid-priced apparel, has been burning through cash as it attempts to fix its troubled operations.