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Express Sale to WHP Global-Led Group for $174 Million Approved.
In: Bloomberg.com, 2024-06-14, S. N.PAG
Online
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Zugriff:
Express Inc., a clothing retailer, has been approved by a bankruptcy court to be sold for $174 million to a consortium led by WHP Global. The consortium includes brand licensing company WHP Global, backed by Ares Management Corp. and Oaktree Capital Management, as well as mall owners Simon Property Group and Brookfield Properties. The sale includes $136 million in cash and the assumption of $38 million in liabilities. The sale will preserve Express' retail business, save thousands of jobs, and keep most of Express' existing locations open. Express has faced challenges due to declining in-store sales, changing consumer tastes, and online competition. [Extracted from the article]
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Express Sale to WHP Global-Led Group for $174 Million Approved.
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Autor/in / Beteiligte Person: | Randles, Jonathan |
Zeitschrift: | Bloomberg.com, 2024-06-14, S. N.PAG |
Veröffentlichung: | 2024 |
Medientyp: | serialPeriodical |
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