Express is closing more than 100 stores and expects the balance of its fashion retail portfolio to be acquired by a consortium led by WHP Global, the company disclosed on Monday in a filing for Chapter 11 bankruptcy protection.

In the SEC filing, Express said it has received a non-binding letter of intent from the consortium, which includes Simon Property Group and Brookfield Properties, “for the potential sale of a substantial majority of the company’s retail stores and operation.”


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