Retailer New York & Company Files For Bankruptcy

RTW Retailwinds, parent company of New York and Company, announced bankruptcy due to financial distress from a challenging retail environment and the COVID-19 pandemic. The company, which started over 100 years ago in New York City, plans to close most of its nearly 400 stores across 32 states. This announcement follows a trend of retail bankruptcies during the pandemic, including J.Crew, JCPenney, and Neiman Marcus. RTW Retailwinds has initiated a store closing and liquidation process.

What are the main reasons cited for RTW Retailwinds' financial distress?

• Increased competition and high rent costs

• Challenging retail environment and coronavirus pandemic

• Poor management and outdated products

• Lack of online presence and marketing

Where did RTW Retailwinds originally start its business?

• Los Angeles

• Chicago

• New York City

• San Francisco

How many states does RTW Retailwinds currently have stores in?

• 40

• 32

• 50

• 25

Which of the following retailers also filed for bankruptcy during the pandemic?

• Nordstrom

• Macy's

• Target

• J.Crew

What process has RTW Retailwinds initiated for New York and Company?

• Rebranding and marketing

• Expansion and renovation

• Partnership with another retailer

• Store closing and liquidation