The fashion retailer will now become a digital-only company.
Saadia Group, a New York investment company has purchased New York & Company and Fashion to Figure from bankrupt company RTW Retailwinds. The purchase includes all of its e-commerce business and all related intellectual property, such as its websites, rental subscription businesses and certain other asset.
Sheamus Toal, Chief Executive Officer of RTW commented: “Looking to the future, we believe the new company is well-positioned for organic growth within the digital space with both the New York & Company and Fashion to Figure brands.”
While Jack Saadia, Chief Executive Officer of Saadia Group added: “We believe in the New York & Company and Fashion to Figure brands and the opportunity to use these e-commerce platforms to continue to grow the business as we move forward.”
This purchase saves a number of jobs that have been uncertain since RTW was declared bankrupt.
