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New York & Co. says it may close all 400 stores as parent firm files for bankruptcy

New York & Co. says it may close all 400 stores as parent firm files for bankruptcy
Tuesday 14
3:0 2020

Retailers were already being pushed to the brink before the coronavirus pandemic led to widespread stay-at-home orders that gutted sales. In 2019, RTW said revenue fell more than 7 percent, to $827 million, and recorded a net loss of $61.6 million after locking in a $4.2 million profit the year before. AD In March, joining other retailers as the outbreak took hold of the country, RTW announced plans to temporarily close stores and furlough workers. Now the bankruptcies are piling up — including J. Crew, Neiman Marcus and J.C. Penney — highlighting the punishing financial environment for the industry. AD ...

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Washington Post : New York & Co. says it may close all 400 stores as parent firm files for bankruptcy

Summary: RTW Retailwinds, a women's fashion company founded in 1918, is the latest retailer hobbled by the coronavirus recession.

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