Please let us know if you have feedbackDive Brief:Apparel retailer Express Inc. is preparing for a possible debt restructuring that could include a bankruptcy filing “within weeks,” The Wall Street Journal reported Monday, citing sources familiar with the matter. The retailer is looking to avoid a Chapter 11 filing by restructuring its debt outside the bankruptcy process, the report said. Express reported total debt of about $275 million at the end of the third quarter, an increase from $235.4 million a year before. “With high-interest rates, the retail company must decide between the ‘lesser of two evils.' That acquisition helped guide the retailer to a 5% year-over-year uptick in Q3 net sales to $454.1 million from $434.1 million a year earlier.

Source: Wall Street Journal February 13, 2024 21:45 UTC