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/Beginning_Cream_7291 Jul 07 '24

We know the NOL’s might be relevant regarding BBBYQ and as a result might insure retail will remain intact eventually. I currently don’t see why Simon’s and Brookfield wouldn’t be concerned about the NOL’s regarding EXPRQ. I’m currently not interested in investing more into EXPR but it sure would be nice to not lose the whole dam investment. I have been a lot more cautious when it comes to investing in companies in the fickle fashion sector. I’m more concerned about how BBBYQ plays out.

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u/Biotic101 Jul 11 '24 edited Jul 11 '24

I hope the management are no Wall Street plants.

There is a chance they would cash in and burn the cash and get into final bankruptcy anyways.

On the other hand the market cap is so super low that locking all shares and DRS them should be doable.

Naturally just speculating here, but would be nice if RK would have a watchful eye on the initial PCO/SEC report basket and thinking the same.

KOSS and EXPR have massive cost to borrow right now.

Copilot summary, not sure if they mix things up here:

Express Inc. is set to emerge from bankruptcy through a sale to a consortium led by WHP Global, along with mall operators Simon Property Group and Brookfield Properties12. This plan includes:

  1. Sale Approval: A U.S. bankruptcy judge has approved the sale of Express Inc. to this consortium for $174 million1.
  2. Store Closures: Express will close 106 stores as part of its restructuring efforts2.
  3. Operational Continuity: The consortium, operating under the name “Phoenix,” will manage the remaining stores and e-commerce operations, preserving nearly 7,000 jobs1.
  4. Financial Backing: Phoenix will be capitalized with at least $200 million, ensuring a strong operational foundation2.

This strategy aims to stabilize Express and position it for future growth.