A Delaware bankruptcy court on Thursday has given its approval for the WHP Global led consortium to acquire bankrupt Express Inc.

The approval confirms a story in Sourcing Journal on Wednesday that WHP would be that acquirer and that court approval could be granted as early as Thursday. The consortium also includes as investors mall landlords Simon Property Group and Brookfield Properties.

In allowing the sale to proceed, more than 7,000 jobs in the U.S. will be saved. The plan is to keep over 450 stores in operation, as well as the e-commerce site. Earlier this week, Express vendors and suppliers—at the behest of WHP and its investors—were asked to agree to changes in purchase terms, including a 20 percent discount on open purchase orders and a 10 percent invoice reduction on future purchase orders, as well as agree to extended payment terms. Sourcing Journal learned that the consortium has the agreement of more than 200 suppliers and vendors who have signed letters of intent indicating their support going forward for the new owners.

As is typical with brand management firms, WHP Global will own the intellectual property of the Express and Bonobos brands, while the mall landlords will have oversight of retail operations.

The closing of the transaction is expected in a few weeks.

Express filed its Chapter 11 petition in a Delaware bankruptcy court in April. WHP has held a 7.4 percent investment stake in the retailer since January 2023. That investment included a 60 percent interest in a joint venture licensing agreement valued at $400 million, to which WHP contributed $235 million. The joint venture went on to acquire menswear brand Bonobos in April 2023 for $75 million from Walmart. Express’ UpWest concept is currently in liquidation mode and will be shut down.