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New York & Tri-State  + Downtown New York  + Retail  | 

New York & Company Parent Files for Chapter 11

RTW Retailwinds, the parent company of the New York & Company, Fashion to Figure and Happy x Nature retail brands, filed for Chapter 11 bankruptcy protection Monday. The Manhattan-based retailer has launched a store closing and liquidation process ahead of shuttering most, if not all, of its brick-and-mortar locations.

Sheamus Toal, CEO and CFO of RTW Retailwinds, said, “The combined effects of a challenging retail environment coupled with the impact of the Coronavirus (COVID-19) pandemic have caused significant financial distress on our business, and we expect it to continue to do so in the future.

“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,” Toal continued.

The company is evaluating any and all strategic alternatives, including the potential sale of its e-commerce business and related intellectual property.

Pictured: A Nw York & Company location in Chicago.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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