Headlines

COVID-19: New York & Co. Owner Warns of Bankruptcy

Retailer may file for Chapter 11 due to the impact of the pandemic

Published

4 years ago

June 4, 2020

VMSD Staff

RTW Retailwinds, owner of the fashion brand New York & Co., warned in an SEC filing that it may file for Chapter 11 bankruptcy, reports CNBC.

The retailer is reportedly in the process of finalizing a 10-K filing that will reflect “substantial doubt” about its ability to continue to operate. RTW Retailwinds reports that its inventory has aged as it has accumulated in stores and distribution centers over the past two months and is now “significantly impaired” according to the filing.

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