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In August 2023, Express announced that they would be laying off 150 workers in effort to achieve $150 million in annualized expense reductions by the end of 2025. [10] On October 24, 2023, Express warned that it may have to file for Chapter 11 bankruptcy protection as it has been hit hard from the COVID-19 pandemic, stating store sales have been declining for years and rising costs putting the ...
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In 1936, Anderson-Little (a men's clothing brand) opened an outlet store independent of its existing factories. Until the 1970s, the primary purpose of outlet stores was to dispose of excess or damaged goods. [citation needed] In 1970, Vanity Fair opened the first multi-store factory outlet center in Reading, Pennsylvania. [3]
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