RTW Retailwinds says it has agreed to sell its e-commerce business to Sunrise Brands for $20m in cash plus assumption of certain liabilities, including honoring gift cards.
- Deal includes all related intellectual property, including websites www.nyandcompany.com, www.fashiontofigure.com and rental subscription businesses at www.nyandcompanycloset.com and www.fashiontofigurecloset.com
- NOTE: RTW filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey on July 13
- RTW anticipates a court hearing to approve the sale in early September
- B. Riley FBR is serving as the investment banker to RTW; Cole Schotz P.C. ...
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