Wednesday, June 3, 2020

New York & Company owner RTW Retailwinds warns bankruptcy filing imminent

CNBC
New York & Company parent RTW Retailwinds on Wednesday morning warned about its ability to continue as a going concern, and that it might be preparing to file for Chapter 11 bankruptcy protection, hit hard by the Covid-19 crisis.

It said in an 8K filing with the Securities and Exchange Commission that it is in the process of finalizing a 10K filing with its auditor that will reflect, among other things, “a substantial doubt” about its ability to continue as a going concern. It said it needs more time to consider the disclosures about those matters, and it has requested an extension to file its annual report. . . . more