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US court approves Express Retail's acquisition by WHP venture Phoenix

PHOENIX will serve as a financially revitalized DTC retail platform and set the stage for long-term growth for the Express and Bonobos brands. PHOENIX will focus on strengthening the core operations of Express and Bonobos, ensuring the continuity of over *** physical stores, e-commerce operations and the preservation of nearly *,*** jobs across the country.

Yehuda Shmidman, Chairman & CEO of WHP Global, emphasized the importance of this transaction: "We are thrilled to partner with Simon, Brookfield, and Centennial to launch PHOENIX. Today&#**;s court approval and the formation of PHOENIX marks a vital step in our mission to save Express Inc. and continue serving millions of customers who love the Express and Bonobos brands. With the restructuring actions accomplished during the Chapter ** process, we believe Express is now well-positioned for a powerful path forward, benefiting all stakeholders, including our valued vendor partners, licensees, landlords and dedicated team."