Bonobos Wholesale Customer FAQ

What did Express announce?
- Express announced that WHP Global, Simon Property Group and Brookfield Properties have provided a letter of intent that contemplates an acquisition of a substantial majority of the Company’s retail stores and operations.
- To facilitate this sale process and enable us to obtain additional financing, we have initiated voluntary Chapter 11 proceedings.
- We are operating and continuing to serve customers in stores and online across our EXPRESS, Bonobos and UpWest brands and expect to conduct business as usual as we work to right-size our lease portfolio and operations.
What is Chapter 11?
- Chapter 11 is a section of the U.S. Bankruptcy Code that allows companies to restructure their finances or implement agreements while they continue operating.
Why did Express file for Chapter 11? Why now?
- To facilitate this sale process and enable us to obtain additional financing, we have initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware.
Is Express going out of business? Will the Company be closing any stores?
- Express and our brands are operating and serving customers without interruption.
- However, as we continue to focus on enhancing our profitability, we intend to close approximately 95 EXPRESS retail stores and all UpWest stores. The closing sales at affected stores began on April 23, 2024.
What does this mean for wholesale customers?
- This process should not have any impact on you or how we work together.
- You are an important partner to Bonobos, and we are continuing to deliver the fashions your customers love in accordance with the terms of our contracts and agreements.
- We appreciate your continued partnership and support.
Why should I continue to do business with Bonobos – what if there is a problem with your suppliers that impacts my orders?
- You are an important partner to Bonobos, and we are continuing to deliver the fashions your customers love in accordance with the terms of our contracts and agreements.
- We look forward to working with our vendor and supplier partners to ensure a continued successful enterprise for the benefit of our customers and the communities we serve. We expect to have sufficient liquidity to support the business during the court-supervised sale process.
Does Express have sufficient cash necessary to continue operating?
- The Company expects to have sufficient liquidity to support the business during the court-supervised sale process.
Will this process affect the Company’s day-to-day operations?
- Express and our brands are operating and serving customers and without interruption:
- EXPRESS retail stores, EXPRESS factory outlets, Bonobos Guideshops and UpWest stores are open per their usual hours.
- All of our online channels, including Express.com, Bonobos.com, and UpWest.com, along with all brand apps, are accepting orders.
- All of our brands are fulfilling orders and processing returns, merchandise return policies remain unchanged, and gift cards and store credits are currently being redeemed in-store.
- Bonobos is continuing to serve its premium wholesale customers.
- Customer benefits related to the EXPRESS Insider program remain the same.
- As we continue to focus on enhancing our profitability, we intend to close approximately 95 EXPRESS retail stores and all UpWest stores. The closing sales at affected stores began on April 23, 2024, and we encourage customers to take full advantage of the discounts available at these locations.
- Our top priority remains providing our customers with the contemporary styles and value they expect from us.
When does Express expect to complete this process?
- We intend to move through this process as quickly and efficiently as possible.
Will my contact remain the same?
- Yes, your contact at Bonobos remains the same.
Where can I find additional information?
- We will continue to keep you informed about key milestones as we move forward. In the meantime, additional information is available at www.AdvancingExpress.com.

Court filings and other information are available on a website administrated by the Company’s claims agent, Stretto, at https://cases.stretto.com/Express.

Representatives of Stretto can also be reached by calling (855) 337-3537 (Toll-Free) or (949) 617-1363 (International), or by sending an email to ExpressInquiries@Stretto.com.

Media Contacts

Michael Freitag / Aura Reinhard / Haley Salas / Viveca Tress
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Investor Contact

ir@express.com

Bonobos Wholesale Customer FAQ

What did Express announce?

What is Chapter 11?

Why did Express file for Chapter 11? Why now?

Is Express going out of business? Will the Company be closing any stores?

What does this mean for wholesale customers?

Why should I continue to do business with Bonobos – what if there is a problem with your suppliers that impacts my orders?

Does Express have sufficient cash necessary to continue operating?

Will this process affect the Company’s day-to-day operations?

When does Express expect to complete this process?

Will my contact remain the same?

Where can I find additional information?

Case information

Contacts

Media Contacts

Investor Contact