April 22, 2024

Note: This story has been updated since originally published.

Fashion retailer Express Inc. has filed for bankruptcy in an effort to sell most of its stores while closing 95 locations.

The Sioux Falls store in The Empire Mall was not on the list of closings released Monday. Going-out-of-business sales are starting this week.

The Ohio-based men’s and women’s clothing store operates about 530 Express retail and Express Factory Outlet stores in the United States and Puerto Rico.

At the same time as its bankruptcy filing, Express announced that it has received a nonbinding letter of intent from a consortium led by WHP Global. Participants in the consortium include a wholly owned indirect subsidiary of Simon Property Group, which owns The Empire Mall.

“We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations,” Express CEO Stewart Glendinning said in a statement. “We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives.”

The company reported that it received notice from the New York Stock Exchange on March 6 that trading of its common stock was suspended and that it would be delisted because it failed to maintain a market capitalization of $15 million for 30 consecutive trading days.