Columbus retailer Express says 615 headquarter jobs at risk because of bankruptcy filing
Express is warning the state that all 615 workers at its two main offices in Columbus are at risk of losing their jobs because of this week's bankruptcy filing by the retailer.
Express said in the filing with the Ohio Department of Job and Family Services that the bankruptcy filing may result in the permanent closure of its offices at 1 Express Dr. off of Morse Road and 235 N. Fourth St. Downtown.
"The company has been attempting to sell or restructure its business, refinance its existing debt, and/or otherwise procure additional liquidity to maintain ordinary course operations," Express said in the notice. "At this time, the company does not know if these efforts will succeed."
"The purpose of the notice is to inform you that, if our sales or restructuring efforts fail altogether, or, in the event of a sale, if the buyer of the business fails to provide a sufficient number of job offers to current employees at this location, all employees employed at or reporting to the Ohio office will be permanently laid off and the Ohiooffice will be permanently closed," the company said.
Express said based on the best information it has now, layoffs are expected to occur on June 20 or within two weeks after that.
As part of the bankruptcy filing on Monday, Express said it has received an offer for the potential sale of most of its stores from a group led by WHP Global, which owns several brands, including Toys "R" Us.
It also has said it plans to close 95 Express stores and all of its UpWest stores. The UpWest website shows 10 UpWest stores. Express had previously closed the UpWest store at Easton Town Center.
Express said in a bankruptcy court filing that it expects the stores to close by June 30.
Express also operates the Bonobos Guideshop brand that has about 60 stores.
Over the past year, Express said it has closed 100 stores that it has 584 stores as of the time of the filing.
mawilliams@dispatch.com
@BizMarkWilliams
This article originally appeared on The Columbus Dispatch: Express bankruptcy filing may cost 615 corporate workers their job
