"Cheap formal" clothing chain Express bankrupt

Express, found in malls across the nation, has filed for bankruptcy protection. It will close 95 stores and try to stay alive by selling itself, reports NPR.

Last month, the New York Stock Exchange delisted the retailer because of its languishing stock value. … New Express CEO Stewart Glendinning acknowledged "missteps" in clothing selection, "most notably in women's, where we were out of balance across categories, price points and wearing occasions," he told investors in November, adding: "We believe strongly there's a path to total company improvement."

I found myself in a Pittsburgh-area Express not long ago, the one in the nice mall, and it was odd. The menswear entrance was locked, meaning that to get to that section you have to enter through the women's department and head through a dungeon-like clearance sale area the size of a two-car garage. Only then can you behold the $125 suits that James Woods might wear in a movie where he is a pimp.

Previously: Former Abercrombie & Fitch CEO, facing sex trafficking claims, sues his old company