Parent company of New York & Company files for bankruptcy

RTW Retailwinds has filed for Chapter 11 bankruptcy protection with plans to close many, if not all, of its 378 stores.

The filing was not unexpected. In a filing with the Securities and Exchange Commission in June, RTW called bankruptcy “probable,” citing the adverse impact of COVID-19 on its operations. The retailer noted that, prior to the pandemic, it planned to accelerate its strategy to reposition itself as a digitally dominant retailer, which included the closing of 150 of stores during the next 18 months. ...

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- - Volume: 8 - WEEK: 30 Date: 7/21/2020 9:44:29 AM -