The parent company of New York & Co., RTW Retailwinds, filed for Chapter 11 bankruptcy protection and announced plans to permanently close most, if not all New York & Co. stores.
Prior to filing bankruptcy, the retailer launched liquidation sales that are already underway at reopened locations. RTW Retailwinds joins a growing list of retailers that have filed for bankruptcy due to the impact of the coronavirus.
In a statement by RTW Retailwinds CEO and CFO, Sheamus Toal, “The combined effects of a challenging retail environment coupled with the impact of the Coronavirus pandemic have caused significant financial distress on our business, and we expect it to continue to do so in the future.”
He also added, “As a result, we believe that a restructuring of our liabilities and a potential sale of the business or portions of the business is the best path forward to unlock value.”
The current plan includes closing most, if not all New York & Co. stores while potentially seeking a buyer for its e-commerce business and intellectual property.
As the retailer enters bankruptcy, you’ll find incredible deals at both liquidation sales in-store, and unbelievable online deals. Unlike many retailers, New York & Co. started the liquidation process prior to filing for bankruptcy.
Approximately 92% of the New York & Co. retail stores are now open, and most have begun final sales. There are 378 retail and outlet locations in 32 states which include branded merchandise stores, Fashion to Figure, and Happy x Nature. In addition, the company’s portfolio includes collaborations with Eva Mendes, Gabrielle Union, and Kate Hudson.
New York & Co. is also holding an incredible sale on its e-commerce site. If you don’t have a store near you, you may find a better selection and better deal by simply shopping online.
The current sale will save you 40% on everything, including new arrivals and celebrity collections. Runway Rewards Cardholders will get 50% off when they use their Runway card and enter promo code RUNWAY50 during checkout.
There are very few exclusions to this offer – and if the item is excluded, its likely already marked lower than 40-50% off. Exclusions include NY Deals, Redlines, and clearance items.
Buy $50 or more and your items will ship to your door absolutely free. Spend less, and shipping starts at only $5.99.