New York & Co. Parent’s E-Commerce Bankruptcy Sale Advances

New York & Co. parent RTW Retailwinds Inc. received court approval for a bankruptcy sale process with a $20 million starting bid for the fashion retailer’s e-commerce business and intellectual property.

Judge John K. Sherwood of the U.S. Bankruptcy Court for the District of New Jersey, in a telephonic hearing Friday, granted “stalking horse” bid protections for apparel brand operator Sunrise Brands LLC’s.

Sunrise’s offer to buy the online business for New York & Co. and affiliate Fashion to Figure will be used as a floor price should an auction take place later this month.

The sale process has the ...