Retailer Express Seeks Bankruptcy Savior in Toys ‘R' Us Owner [BNN Bloomberg (Canada)]
Ares Management Corporation Class A (ARES)
Last ares management corporation class a earnings: 2/13 06:00 am
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Source: BNN Bloomberg
WHP Global, a brand manager that owns Express shares as part of a 2023 partnership, is among a handful of firms considering buying the troubled apparel chain as part of Chapter 11 proceedings, said the people, who could not be named discussing private preparations. Other prospective bidders include the private equity firm Sycamore Partners, the people said. Representatives for Sycamore Partners, Express, and WHP declined to comment on the plans. Express may file for bankruptcy as soon as this weekend, but the preparations aren't final and plans could change, the people said. WHP Global, based in New York and backed by Ares Management Corp., owns a portfolio of brands including Anne Klein, Isaac Mizrahi and Rag & Bone. The firm holds a 60% stake in the Express brand through a joint venture formed in 2023. The firm licenses the brands to partners who manage their operations. WHP acquired the Toys “R” Us name by buying a controlling stake in its owner during the retail giant's 2
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ARES
Earnings
- 5/2/24 - Miss
ARES
Sec Filings
- 5/2/24 - Form 8-K
- 4/19/24 - Form 4
- 4/19/24 - Form ARS
- ARES's page on the SEC website