Spokane Express store one of 95 closing nationwide

SPOKANE, Wash - The Express Factory store in the Northtown Mall is on the chopping block, as the company files for bankruptcy.

Express, Inc announced Monday it's closing 95 stores nationwide and 10 stores it operates under the UpWest name.

The company confirmed to 4 News Now Tuesday that the store in North Spokane is among those closing.

The company, founded in 1980, was once a trendsetter for casual office attire.

It sells both men's and women's clothes.

The company says closing sales at the affected locations will begin Tuesday, April 23, but no closing date was given.

The company says, beyond these closures, business will go on as usual.

In its filing, Express reported nearly $1.2 billion in total debts and $1.3 billion in total assets.

The Associated Press reports Express joins a handful of retailers filing for Chapter 11 so far this year, including fabrics and craft retailer Joann. Analysts expect the pace of bankruptcy filings this year to be around the same level — close to 24 — as last year, as shoppers hobbled by high consumer debt remain cautious, according to accounting and advisory firm BDO, which tracks retail bankruptcies.

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