Update 4/22/24: As expected, Express has indeed now filed for Chapter 11 bankruptcy. They’ve also announced that they’ll be closing 95 Express stores and all UpWest stores which together represents about 20% off their store base. Hopefully this is enough to get them back on a firm financial footing and there’s reports they’ll be selling the company to WHP and Simon Mall, but I’d personally be wary of holding on to a substantial amount of their gift cards for an indefinite amount of time just in case things go even further south.
Reuters is reporting that the apparel company Express is looking at filing for Chapter 11 bankruptcy in the near future.
As always with this kind of scenario, if you currently have any Express gift cards on hand – whether for personal use or to resell – there’s no immediate cause for worry as filing for bankruptcy doesn’t mean they’ll stop accepting their gift cards as a payment method. It is worth bearing their potential bankruptcy in mind though as to how quickly you want to offload their gift cards just in case their poor financial situation means bankruptcy doesn’t solve their problems long term and causes them to go into liquidation, at which point they would stop accepting gift cards at some point.
Seems like Simon has a new business of buying retail stores to prop up their malls
Express is not selling gift cards or e-gift cards at this time. Gift cards can only be redeemed in stores.