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In August 2023, Express announced that they would be laying off 150 workers in effort to achieve $150 million in annualized expense reductions by the end of 2025. [10] On October 24, 2023, Express warned that it may have to file for Chapter 11 bankruptcy protection as it has been hit hard from the COVID-19 pandemic, stating store sales have been declining for years and rising costs putting the ...
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In April 2023, fashion retailer Express and management firm WHP Global agreed to acquire Bonobos from Walmart for a combined $75 million. Express would obtain the operating assets and liabilities for $25 million and WHP Global would obtain the brand for $50 million, with Express agreeing to license the brand rights in exchange for royalty fees. [3]
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