How Express Survived Bankruptcy

CNBC

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 » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Sign up today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024: https://cnb.cx/4aryNgM Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC How Express Survived Bankruptcy