Reported 8 months ago
A U.S. bankruptcy judge has given the green light for the sale of Express Inc. to a consortium led by brand acquisition and management firm WHP Global. The sale includes $136 million in cash consideration and $38 million in liabilities, totaling $174 million. Express Inc., which owns Express, Bonobos, and UpWest brands, had filed for Chapter 11 bankruptcy protection in April and plans to go through with the sale to the new retail operating platform called 'Phoenix,' in collaboration with mall operators Simon Property Group, Brookfield Properties, and Centennial Real Estate.
Source: YAHOO