50 Brands on the Brink of Declaring Bankruptcy

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Express, a big mall-based clothing store, is struggling financially and on the verge of bankruptcy as a result of post-COVID adjustments. The company's second-quarter report shows a 6.4% decrease in net sales to $435.3 million, along with rising administrative expenses and a continuous growth in debt to $220.8 million. According to Creditsafe data, 35% of owing payments are delayed, totaling over $3 million.

Express

A perfect storm has been created for Express as a result of the gradual depletion of cash reserves and the increasing debt, as well as the influence of remote work and the shifting behaviors of consumers. As rumors of a bankruptcy continue to circulate, experts have advised them to take prompt action, such as reducing expenses and investing in technological advancements.

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Did you know...

  • Once you've handled all your money, you should probably wash your hands. Money is some of the dirtiest things that we own. In fact, it's been found to be dirtier than a household toilet! During flu season, the virus can live on a bill for up to 17 days. That's just plain disgusting!
  • Have you ever wondered who prints the most money? That would be Hasbro, as in the makers of Monopoly. Hasbro prints more Monopoly money in a given year than there is money in the entire world. Each set of the game comes with $20,580. Bet you didn’t know you had that much money lying around the house!
  • Do you know what the lifespan of U.S. currency is? The higher the denomination, the longer it stays in circulation. Both $50 and $100 bills last 9 years. The $20 sticks around for 4 years. $10 bills circulate for 3 years. The $5 bill has a 2-year lifespan, and the $1 bill only lasts around 18 months before being retired. Coins last around 30 years.
  • There are over 1.6 million automated teller machines around the world. And that really does mean the entire world. There are even two ATMs on Antarctica at McMurdo Station operated by Wells Fargo. Friday is the most popular day that ATMs are used worldwide, and the average withdrawal is around $80.
  • The most expensive hotel room in the world (the Royal Penthouse Suite at the Hotel President Wilson in Geneva, Switzerland) costs $83,200 a night. That's $58 per minute for a stay! Good thing it has 12 bedrooms, 12 baths, a wraparound terrace, a Steinway piano, and an assigned private staff (including a chef)!