Women's clothier New York & Company has filed for bankruptcy and will be closing most, if not all, of its nearly 400 stores.
In a statement Monday, parent company RTW Retailwinds said, "The combined effects of a challenging retail environment coupled with the impact of the Coronavirus (COVID-19) pandemic have caused significant financial distress on our business, and we expect it to continue to do so in the future."
The company began more than 100 years ago selling blouses in New York City and today has stores in 32 states. The bankruptcy filing marks the latest retailer to announce bankruptcy during the the pandemic this summer. Others include J. Crew, J.C. Penney and Neiman Marcus.
RTW Retailwinds says it has launched a store closing and liquidation process for New York & Company.