Phoenix Receives Court Approval To Acquire Express Retail Operations
Phoenix, led by WHP Global in collaboration with Simon Property Group, Brookfield Properties and Centennial Real Estate, has been granted court approval to acquire the majority of Express, Inc.’s operations. This new retail platform will oversee direct-to-consumer (DTC) commerce in the US for Express and Bonobos.
Phoenix aims to revitalize Express and Bonobos as robust DTC brands, ensuring continuity across their 450 physical stores, e-commerce channels and preserving nearly 7,000 jobs nationwide.
Yehuda Shmidman, Chairman & CEO of WHP Global, emphasized the significance of this partnership: “We are excited to launch Phoenix with Simon, Brookfield, and Centennial. This milestone paves the way for Express’s future growth, positioning the brands for success and benefiting all stakeholders.”
The transaction closed on June 21, 2024, following successful restructuring efforts during the Chapter 11 process.
