Notably, Express has received a new financing commitment of $35 million from its current lenders. Additionally, it received a $49 million cash boost from the IRS (Internal Revenue Service) under the CARES Act last week. The retailer now plans to continue operating its EXPRESS, Bonobos, and UpWest brands. Meanwhile, it will move toward right-sizing its lease portfolio and operations. As part of this plan, Express intends to shutter nearly 95 EXPRESS retail stores and all UpWest stores.