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Express Clothing Store Files for Bankruptcy, Plans Store Closures and Potential Sale to Weather Troubled Times

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Clothing Store Express, A Mall Favorite, Has Filed For Chapter 11 Bankruptcy

Clothing store Express, which has dominated American malls, is filing for bankruptcy protection and intends to close dozens of stores but also has in place a plan for weathering the storm, which involves a possibility of being sold out.

Express, a well-known fashion retailer whose portfolio includes Express, Bonobos, and UpWest, is filing for Chapter 11 bankruptcy and intends to close more than 100 stores. This move will position Express for stronger growth in the future.

The last few years have been particularly tough for the company, precipitated by its inability to keep up with changing consumer tastes, leading to falling sales, stagnation, and lack of growth. The company has also struggled to diversify its offerings and compete in an oversaturated U.S. market.

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Troubled Times

The first rumblings of trouble started in August 2023 when Express planned to lay off 150 employees gradually through 2024 to save $30 million. However, this was only part of a larger $120 million cost reduction effort. The cost-cutting measures are planned to be extended well into 2025. However, the latest bankruptcy filing will give the company some breathing space and help it restructure its operations and renegotiate many agreements, which will remain in effect even after the stores are closed.

Losses Surged As Sales Sank

The retail apparel chain has 95 name brand stores along with all 12 UpWest retail stores. 2023 was a particularly bad year for the company, and by October 2023, losses had amounted to $154 million, triple compared to the previous year. Inventory was up 32%, while sales tanked by 5.6%, and gross margins dropped from 30% in previous years to 21% by October 2023.

A Buyer Could Save The Situation

The intended aim of filing for bankruptcy is to inject capital that could save the company in the long term. The company has revealed that it has obtained a non-binding letter of intent from a consortium led by WHP Global (“WHP”) and participants. The consortium also includes a branch or subsidiary of Simon Property Group, L. P. (“Simon”), and Brookfield Properties, who could purchase a substantial portion of Express’ retail stores and operations. WHP Global has in the past helped to revive many ailing businesses and is adept at helping struggling companies with a clear focus and vision for success and expansion.

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Also Read: David Beckham, Soccer Legend, Sues Hollywood Star Mark Wahlberg for Allegedly Defrauding Him of $16.4 Million

Manoj Nair: With a decade of news writing across various media platforms, Manoj is a seasoned professional. His dual role as an English teacher underscores his command over communication. He adeptly covers Politics, Technology, Crypto, and more, reflecting a broad and insightful perspective that engages and informs diverse audiences.

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Dartmouth Jewish Studies HOD, Annelise Orleck Arrested; Video Surfaces 

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Dartmouth Jewish Studies HOD, Annelise Orleck Arrested; Video Surfaces 

Annelise Orleck, a professor of Dartmouth College, is all over the internet. She is the head of Jewish Studies at the institution. 

Annelise Orleck was arrested on Wednesday night during a pro-Palestinian protest on campus. Along with her, dozens of other professors were also arrested. Allegedly, they all showed up to support students. 

Recalling the incident, the 65-year-old stated that when police moved into the college on Wednesday night to arrest them, Dartmouth Green was unrecognizable. 

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Annelise said that when she was trying to protect students, her phone was snatched from her and she was knocked down. 

Annelise Orleck added that, in her entire career of being a professor at the college for decades, she had never witnessed anything like that. 

A video of this incident has gone viral all over social media platforms in which police officers can be spotted pushing her against the ground, and then they detain her.

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According to WMUR9, Orleck stated,

“I was mad because they had taken my phone, and I was mad because they just body-slammed me, and it hurt. And so, I went and said, ‘Give me back my phone’. I’m trying to get my phone back. I did. And, at that moment, three police lifted me up in the air, slammed me down onto the ground. I mean, I threw myself down onto the ground on my bad shoulder. And they said I was resisting arrest.”

The video of the 65-year-old that went viral was captured at the protest by news channels. 

She added,

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“And it’s really shameful in a sleepy little campus, in a rural area like Dartmouth, that they brought in this ridiculous show of arms and strength and violence.”

Who is Annelise Orleck?

As per womenalsoknowhistory.com, Annelise Orleck was born and brought up in Brooklyn. Currently, she resides with the journalist Alexis Jetter, her partner in Thetford Center, Vermont. 

At the college, the 65-year-old teaches Jewish Studies, Women’s Gender and Sexuality Studies, and History. 

Moreover, she has been serving at Dartmouth for more than thirty years now. However, her bail condition states that she is banned from entering Dartmouth’s campus. 

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Annelise Orleck stated she sent some emails to the institution, but was left unanswered. She said that being a Jewish woman, she was quite worried about her safety, especially after Wednesday night’s police response.

Also Read: Christopher Bouie Jr Video: Minor Arrested For Sanford, Florida Shooting Leaving 10 Injured

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LVAC Shooting Update: Male Suspect Arrested, Near Las Vegas Gym On Flamingo Road

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LVAC Shooting Update: Male Suspect Arrested, Near Las Vegas Gym On Flamingo Road

A shooting incident that took place at the Athletic Club of Las Vegas on Wednesday afternoon is currently the talk of the town.

In the wake of the incident, a man linked with the shooting incident has been taken into police custody. 

Reportedly, the incident occurred shortly after 1:30 p.m. in the 9600 block of W. Flamingo Road. 

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Fox5 reported that, when the police officials reached the scene, they discovered a male suspect inside a car. Police asked the man a few questions and tried to contact him, but the man refused to come out of the vehicle. 

Suspect Arrested

SWAT and crisis negotiators arrived at the scene and the male suspect was apprehended. More information about the story is not available yet. 

The place where the shooting occurred has been placed on lockdown temporarily, reported Times Now.

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In regard to the incident, one person wrote, “Cops and helicopters everywhere, And so many gunshots were fired. The helicopter was talking through the microphone. What’s going on?”

Following the incident, an increased presence of police and law enforcement officials could be spotted in the area.

Also Read: Chelsea NYC Shooting: One Dead, One Arrested in Gunfire On West 24th Street 

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Warren High School Stabbing Incident: School Placed Under Lockdown, One Student In Custody 

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Warren High School Stabbing Incident: School Placed Under Lockdown, One Student In Custody 

The Warren High School stabbing incident has dominated the media headlines. In connection to this stabbing incident, a student has been taken into custody. 

Two students were involved in a brawl in which one stabbed another. The victim suffers life-threatening injuries, reported NBC.

The incident occurred on Wednesday at Warren High School in Downey, California. The school confirmed the incident in a Facebook post.

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It stated that the academic institution was placed on a brief lockdown in the wake of the incidents. Furthermore, all students were safe. 

Announcement by Warren High School 

The school wrote,

“There has been an incident between two students at Warren High School that warranted a lockdown and the lockdown has been cleared. At this point, we can confirm one of the students is receiving medical treatment due to an injury to a sharp object. Downey Police have the student in custody.”

Warren High School added,

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“Police are conducting an investigation and students are remaining in class for now. All students and staff on campus are safe. Additional information will be sent as soon as possible.”

According to Times Now, as per the reports available, classes of the students resumed at 2 p.m. Parents were also provided with an option to take their kids safely back home for the day. 

Situations that resulted in the incident haven’t been made public yet.

Also Read: Chelsea NYC Shooting: One Dead, One Arrested in Gunfire On West 24th Street 

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