Parent company of New York & Co. files for bankruptcy
New York & Co. stores will be closing due to the bankruptcy filing of its parent company, RTW Retailwinds Inc.
In a statement, RTW said it “expects to close a significant portion, if not all, of its brick-and-mortar stores.” It has 378 locations in 32 states, including a store in Penn Square Mall.
New York & Co. started as Lerner Shops more than a century ago, with the name change coming in the late 1990s. Most recently it partnered with celebrities Eva Mendes, Gabrielle Union and Kate Hudson on new collections designed to drive customers to the store.
RTW joins recent bankruptcy filings that include J.C. Penney, Neiman Marcus, J. Crew and Pier 1.