Popular Clothing Store In New York On Verge Of Bankruptcy

Another major retailer is on the verge of filing bankruptcy which can possibly affect New York shoppers. As many malls are facing less traffic and closures around New York State due to people doing more shopping online, certain retailers are feeling the pain also.

If you're my age, you've seen quite a few retailers that were staples growing up virtually disappear from the shopping landscape. I'm old enough to remember when the mall was the place to be. We got dressed up to go to the mall because you never knew who you'd run into. As a teen, that was one of the popular places to hang out. Back in college, I remember spending some of my financial aid money at Express. As a matter of fact, when I was homeless for two weeks in New York City due to the September 11 terrorist attacks, I found an Express in Times Square to buy some clothes using the stipend that my university gave me. I bought a skirt, some boots, a sweater and a few other things with the $200. I may have been without a home for a couple of weeks, but I was still going to be stylish.

Express Clothing Stores 'Teetering On Bankruptcy'

According to Retail Dive, Express may not have much life left in it. With so many fast fashion retailers offering great deals online and free shipping, many college-aged and young professional women are ditching malls and opting for online retail therapy.

Express, Inc. is an American Mutli fashion retailer whose portfolio includes Express, Bonobos and UpWest. The Company operates an omnichannel platform as well as physical and online stores. Grounded in a belief that style, quality and value should all be found in one place.

Express was founded in 1980 as Limited Express in Chicago, Illinois. Its headquarters are now located in Columbus, Ohio. Express employs approximately 10,000 people and operates more than 500 brick-and-mortar stores. In 2021, its reported net income was a loss of 14.4 million, according to Wikipedia.

Retail Dive says,

The apparel retailer reported earlier this month that its second-quarter net sales fell 6.4% from last year to $435.3 million. Express reported a $44.1 million loss in Q2 compared to $7 million in net income year over year.

You can read more of Retail Dive's analysis of Express' current business here.

Express currently has many physical locations in New York, which potentially close if it files for bankruptcy (not all New York locations listed below):

EXPRESS
Crossgates
120 Washington Ave
Albany, NY 12203

EXPRESS FACTORY OUTLET
Colonie Center
131 Colonie Center
345, 349, 351
Albany, NY 12205

EXPRESS
Times Square
1552 North Broadway
New York, NY 10036

EXPRESS
Steinway Street
3101 Steinway Street
Astoria, NY 11103

EXPRESS
Kings Plaza
5036 Kings Plaza
Brooklyn, NY 11234

EXPRESS EDIT
Soho
514 Broadway
New York, NY 10012

EXPRESS FACTORY OUTLET
Fulton Street
490 Fulton Street
Brooklyn, NY 11201

EXPRESS EDIT
Flatiron
129 5th Avenue
New York, NY 10003

EXPRESS
Walden Galleria
1 Galleria Drive
Buffalo, NY 14225

EXPRESS FACTORY OUTLET
Fashion Outlets of Niagara Falls
1900 Military Rd
Niagara Falls, NY 14304

EXPRESS FACTORY OUTLET
The Marketplace Mall
400 Miracle Mile Drive
Rochester, NY 14623

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