If a stroke of luck exists in the downward spiral of an array of favored retailers, fashion conscious consumers can cash in on smart deals with New York & Company. The retailer is currently running an “Everything 50-80%” promotion on its website, but it appears to be a standard online sale and not a going-out-of-business liquidation sale despite bankruptcy murmurs.
Celebrity fashionista and melanin beauty Gabrielle Union has introduced a rainbow of life in the form of sheer dresses with slits up to ‘there’ as she advances her 2020 collection promoted by New York & Company with an ad campaign shot on location in Miami at locations like Historic Hampton House. The collection invites consumers to shop sophisticated looks and signature statement pieces in bold colors and timeless silhouettes that include embroidered sweatshirts featuring a subtle feminine design that look polished when paired with a tailored pant or the latest denim.
The company’s website boasts Union’s ‘Dressed for success’ look that allows women to discover the figure flattering style of our timeless ruffle sleeve shift dress that looks chic during the work day and can be easily dressed up with strappy heels and all the latest accessories. The garments are deemed versatile and sexy sophistication including v neck sheath dresses and long sleeve dresses that deliver trend-setting style for virtually any occasion.
Seasonal favorites include the mock neck sweater dresses which offers a cozy, figure-hugging look women will love, in fun colors and bold stripes. Fashion suggestions include pairing sweater dresses with a great pair of boots and you've got sophisticated style in a matter of minutes.
The Gabrielle Union collection also includes colorful kimono jackets in short and long styles. Create great style in an instant when paired with palazzo pants and heels. Work it! Explore sophisticated separates for chic work to weekend style, with our flounced one shoulder blouses, bell sleeve rompers, 7th Avenue one-shoulder tops, and zip front sheath dresses. These timeless styles come in gorgeous jewel tones and vibrant designs.
New York & Company warned in a Securities and Exchange Commission filing on June 3 that it may file for Chapter 11 bankruptcy in response to the coronavirus pandemic. RTW Retailwinds said it’s in the process of finalizing a 10-K form, which is a summary of the company’s financial performance, that will reflect “substantial doubt about the company’s ability to continue.”
The company has been hit hard by the coronavirus pandemic and said it has experienced store closures, furloughs, supply chain disruptions and terminations of certain corporate positions. In the filing, RTW Retailwinds said it has not paid April and May rent to landlords, and didn’t make recent payments to many of its vendors.
According the filing, “The RTW Retailwinds believes without seeking protection under the bankruptcy laws it does not have ability to raise additional capital at this time.”
At the close of 2019, the company announced plans to shutter a total of 27 stores, including 19 New York & Company locations, four Fashion to Figure stores and four outlet stores. The news was revealed during the company’s third-quarter earnings call with analysts. RTW executives noted that 70% of the company's stores have leases with terms of two years or less and it is continuing to “actively evaluate” its real estate portfolio.
For the full fiscal year, RTW expects to have closed a total of 31 locations and opened seven New York & Company stores and two Fashion to Figure stores. (Fashion to Figure is the company’s plus-size brand.)
“We see stores as an important driver of customer acquisition and engagement, metrics that inform our holistic approach to real estate,’ said CEO Greg Scott.
All stores have been temporarily closed since March 19 due to Covid-19.