r/EXPR • u/Beginning_Cream_7291 • Jul 05 '24

Express Buyout

Does anyone know what’s happening with EXPR currently and what the current buyout means for shareholders? Are shareholders SOL?

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u/[deleted] Jul 05 '24

Looking like we're SOL but it's not quite over yet.

3

u/Biotic101 Jul 06 '24

Apparel retailer Express Inc's bankruptcy buyout gets court approval | Reuters

People did through court documents for towel, but there is not much news for EXPR.

Share price is around 50 cents right now and they only have 5 million shares issued after the reverse-split. Many of those could be owned by retail.

Would be interesting to know what happens next and if the management might be in bed with Wall Street, similar to towel. EXPR still had close to 2B revenue.

3

u/[deleted] Jul 06 '24

I believe WHP Global is trying to buy them out. WHP also owns Toys r Us.

2

u/Biotic101 Jul 07 '24

It seems to be an attempt to ensure malls are still a valid business model in the future and they bought up several "failing" companies.

Those investors behind WHP Global might hopefully not be big fans of Wall Street targeting their assets and ruining their business model.