Specialty women's omni- channel US retailer RTW Retailwinds recently announced that it has entered into an asset purchase agreement with Sunrise Brands for the sale of its e-commerce business and all related intellectual property, including its websites, www.nyandcompany.com, www.fashiontofigure.com and its rental subscription businesses at www.nyandcompanycloset.com and www.fashiontofigurecloset.com.
The agreement was signed for a cash purchase price of $20 million plus assumption of certain liabilities, including honoring gift cards, subject to closing adjustments. It is subject to final approval by the bankruptcy court, according to a company press release.RTW Retailwinds recently announced that it has entered into an asset purchase agreement with Sunrise Brands for the sale of its e-commerce business and all related intellectual property, including its websites, www.nyandcompany.com, www.fashiontofigure.com and its rental subscription businesses at www.nyandcompanycloset.com and www.fashiontofigurecloset.com.#
The company, which filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the bankruptcy court for the district of New Jersey on July 13, anticipates a hearing to approve the sale in early September.
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