What Caught Our Attention in the Investment World? – Week of July 13 – 17, 2020

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.

Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2020 – Ambastha Financial LLC.

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