Just a decade ago, clothing retailer Express was at the top its game. Shopping malls were all the rage and remote work was in the distant future, and the company’s annual sales reached $2.5 billion from its about 700 stores around the country. But after the departure of its CEO, Micheal Weiss, in 2015, the company began to lose its grip. Sales steadily declined and, by April of 2024, Express filed for bankruptcy. Watch the video above to learn about why a group of investors are now jumping in to save the brand.
Chapters:
0:00 Introduction
1:15 Chapter 1: Rise and fall
4:35 Chapter 2: Bankruptcy
5:50 Chapter 3: Plans for comeback
Produced and Shot by: Ryan Baker
Edited by: Nora Rappaport
Additional Camera by: Natalie Rice
Additional Reporting by: Gabrielle Fonrouge
Animation: Christina Locopo
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images
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How Express Survived Bankruptcy
Author: CNBC
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News post in July 6, 2024, 6:04 pm.
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