By Kuldip K. Ambastha
During this past week, RTW Retailwinds (RTW) and Sur La Table both declared bankruptcy. RTW Retailwinds owns several fashion brands focused on women (most prominently New York & Company), while Sur La Table specializes in kitchenware products. RTW Retailwinds has been hard-hit by the coronavirus pandemic, as has Sur La Table. RTW Retailwinds has already started liquidation sales, and it is expected that most (if not all) of its retail stores will be closed. The company’s online operations and intellectual property are also going to be sold off.
Sur La Table is well-known for its in-store cooking classes (now prohibited due to public health risks associated with the coronavirus), and is privately owned by Investcorp which is now looking for a new owner. Many Sur La Table store locations are being closed down. Due to the coronavirus pandemic, American consumers have lessened their demands for upscale kitchenware provided by Sur La Table. COVID-19 has now felled both RTW Retailwinds and Sur La Table.
Keywords – RTW Retailwinds, RTW, New York & Company, fashion, retail, Sur La Table, Investcorp, kitchenware, COVID-19, coronavirus, pandemic, bankruptcy, bankrupt.
Disclosure – The clients and principals of Ambastha Financial LLC do not have any positions in RTW Retailwinds (RTW) or Sur La Table. Since Sur La Table is privately held by Investcorp, it is not possible for the clients and principals of Ambastha Financial LLC to have positions in Sur La Table.
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