Bloomberg Law
Sept. 4, 2020, 5:08 PM

Saadia Group Agrees to Buy New York & Co. Parent’s Online Brands

Leslie A. Pappas
Leslie A. Pappas
Staff Correspondent

The bankrupt parent of retailer New York & Co. has salvaged a $93.6 million deal to sell its e-commerce business to New York investor Saadia Group LLC after the sale nearly fell apart a day earlier.

Saadia will pay $66 million in cash and finalize the sale no later than Oct. 1 under an agreement the two parties reached overnight, Michael D. Sirota of Cole Schotz P.C., an attorney for bankrupt RTW Retailwinds Inc., told the U.S. Bankruptcy Court for the District of New Jersey Friday. The two sides worked up until a minute before the start of Friday’s follow-up ...

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