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Express taps adviser, seeks funds to outlast COVID Published: Dec. 22, 2020 at 6:02 a.m. ET By Resize icon
Fashion retailer Express Inc. has hired investment bank Lazard Frères & Co. to help raise enough financing to carry the company through the Covid-19 pandemic, CEO Timothy Baxter said.
The Columbus, Ohio-based workwear retailer is looking to solidify its finances, Mr. Baxter said. He said Express isn t considering bankruptcy and continues to take decisive and appropriate action to manage liquidity throughout this prolonged pandemic.
With so many Americans working from home, the pandemic has dealt a harsh blow to Express and other retailers focused on apparel designed for the office. The company is looking to add to its cash reserves to stay afloat until enough of the U.S. population is vaccinated against the coronavirus to allow for a resumption of in-person shopping and office work, according to people familiar with the matter. Without the additional finan