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The owner of women’s fashion retail chain New York & Company announced Monday it has filed for bankruptcy and will “close a significant portion, if not all” brick-and-mortar stores due to the financial impact of the coronavirus pandemic.
RTW Retailwinds said New York & Company already has launched liquidation sales at stores. Although not marketed as a liquidation sale, New York & Company is offering 40% off everything online, including new arrivals.
There are 25 New York & Company stores in New Jersey, according to the company’s website. All have reopened after temporarily closing due to the coronavirus.
It’s unknown how many New Jersey stores will be impacted, if not all, and a RTW Retailwinds spokesperson did not immediately respond to a request for comment.
The statement also said eCommerce operations and related intellectual property potentially will be sold.
Some of the noteworthy deals that are part of the online sale include T-shirts starting at $4.99, shorts starting at $15 and wide-leg capri pants for 40% off. You can also find clearance items for up to 85% off.
Brooks Brothers, JCPenney, Neiman Marcus, Pier 1 Imports, Lucky Brand and J.Crew are other companies that have filed for bankruptcy during the coronavirus pandemic.
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Nicolette Accardi can be reached at naccardi@njadvancemedia.com. Follow her on Twitter: @N_Accardi. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tips
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