RTW Retailwinds, the mum or dad company of New York & Co., has submitted for Chapter eleven individual bankruptcy safety. The company reported it programs to forever shut most, if not all, of its merchants and has started liquidation profits.
It is also thinking of offering its e-commerce functions and relevant mental assets.
“The mixed outcomes of a difficult retail surroundings coupled with the effects of the coronavirus pandemic have brought about major monetary distress on our small business, and we hope it to carry on to do so in the future,” RTW Retailwinds chief government officer Sheamus Toal reported in a assertion.
“As a result, we consider that a restructuring of our liabilities and a likely sale of the small business or parts of the small business is the finest path forward to unlock price,” Toal reported.
In accordance to the company website, RTW Retailwinds operates 378 retail and