The fashion retailer Express announced Monday that 95 of its locations across the United States will soon shut down after it filed for Chapter 11 bankruptcy. The location at 26th Avenue and Bell Boulevard in Bay Terrace is included among these locations.
The Express Men at 21127 26th Ave. in the Bay Terrace Shopping Center is one of six locations in New York City to be among the 95 stores across over 30 states and Washington D.C. that will soon close. A precise date as to when this location will close has not yet been announced.
Other New York City Express stores that will soon shut down include those at 490 Fulton St. and 5036 Kings Plaza in Brooklyn and 514 Broadway, 1552 North Broadway and 129 5th Ave. in Manhattan.
Originally founded in 1980, Express has struggled to compete with other well-known clothing stores in recent years. During the company’s announcement of the bankruptcy filing Monday, they said a group led by consumer brand acquisition and management firm WHP Global had sent a letter of intent to buy a majority of its stores. According to Express, the Chapter 11 bankruptcy filing was made as means to “facilitate the sale process.”
According to Express CEO Stewart Glendinning, this proposed purchase would provide Express with additional financial resources while also putting it in a better position to grow profitably and maximize its value for stakeholders.
