Retailer Express Is Said to Hold Talks for Bankruptcy Financing

Retailer Express Inc. is asking its lenders for funds to help finance a potential Chapter 11 bankruptcy process, according to people with knowledge of the plans.

Express, which sells mid-priced apparel, has been burning through cash as it attempts to fix its troubled operations.

Express may file for bankruptcy as soon as next week, but the preparations aren’t final and plans could change, said the people, who asked not to be identified because negotiations are private.

A representative for the company declined to comment on the discussions.

Bankruptcy allows companies to shed expensive leases and continue operating, or quickly ...