New York & Company to close stores after parent company declares bankruptcy

New York & Company has become the latest national retail chain to announce store closings after its parent company, RTW Retailwinds, filed for Chapter 11 bankruptcy.

In a press release, RTW Retailwinds said it expected “to close a significant portion, if not all, of its brick-and-mortar stores,” adding that it will continue to operate its business while beginning “a store closing and liquidation process.” The company stated it was also “evaluating any and all strategic alternatives, including the potential sale of its e-commerce business and related intellectual property.”

The chain, which was founded in New York City in 1918 as Lerner Shops, specializes in women”™s apparel and accessories. During the past decade, the company collaborated with actresses Eva Longoria, Gabrielle Union and Kate Hudson on exclusive collections.

New York & Company operates 378 retail and outlet locations in 32 states. New York & Co. has a Fairfield County presence in Danbury and Trumbull, while its Westchester/Hudson Valley presence includes two stores in Yonkers and one in Middletown, Newburgh, West Nyack and Yorktown Heights.