Say Goodbye To This Retailer In New York State

The news about finances and money has not been great and another major retailer has announced it will be closing stores including some locations in New York State.

The interest rates and the rate of inflation are burying people under mountains of debt. More and more people are relying on loans and credit cards to get by. From student debt, to mortgage rates, it is a struggle to keep up.

But it is not just individuals and hard working families who are feeling the strain of the economy. Retailers and corporations are as well.

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There are some who say it is retail theft, and others who say it is current financial policies and woes that are forcing places to close or pull out of New York State. The latest company to announce financial issues is Express.

According to NewsMax.com, "As part of the bankruptcy process, the company will close approximately 95 Express retail stores and all of its UpWest stores, starting Tuesday, it said, without specifying the locations".

There are several Express locations in New York State. In Western New York, for example, there are two locations. One is inside the Galleria in Cheektowaga and the other is at the Fashion Outlets of Niagara Falls, New York.

Chapter 11 bankruptcy has been a common theme in many of the closings or reorganization of certain businesses. USCourts.gov describes it as: Usually, the debtor remains “in possession,” has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money.