Sunrise Brands to Operate the E-Commerce Business as an Ongoing Business
RTW Retailwinds, Inc. (“RTW” or the “Company”) [OTC PINK:RTWIQ], an omni-channel specialty apparel retail platform for powerful celebrity and consumer brands, today announced that it has entered into an asset purchase agreement with
The Company filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the
The Court filings and other information related to the proceedings are available on a separate website administered by the Company’s claims agent, Prime Clerk at https://cases.primeclerk.com/RTWRetailwinds/.
B. Riley FBR, an affiliate of
About RTW Retailwinds
RTW Retailwinds, Inc. (together with its subsidiaries, the “Company”) is a specialty women’s omni- channel retailer with a powerful multi-brand lifestyle platform providing curated fashion solutions that are versatile, on-trend, and stylish at a great value. The specialty retailer, first incorporated in 1918, has grown to now operate approximately 328 retail and outlet locations in 32 states while also growing a substantial eCommerce business. The Company’s portfolio includes branded merchandise from
This press release contains certain forward-looking statements, including statements made within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Some of these statements can be identified by terms and phrases such as “expect,” “anticipate,” “believe,” “intend,” “estimate,” “continue,” “could,” “may,” “plan,” “project,” “predict,” and similar expressions and references to assumptions that the Company believes are reasonable and relate to its future prospects, developments and business strategies. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. Factors that could cause the Company’s actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to, (i) the risks associated with the spread of COVID-19 and its impact on the Company’s sales and supply chain including the Company’s store closures as a result therefrom and significant declines in revenues caused thereby; (ii) the Company’s dependence on mall traffic for its sales and the continued reduction in the volume of mall traffic; (iii) the Company’s ability to anticipate and respond to fashion trends; (iv) the impact of general economic conditions and their effect on consumer confidence and spending patterns; (v) changes in the cost of raw materials, distribution services or labor; (vi) the potential for economic conditions to negatively impact the Company’s merchandise vendors and their ability to deliver products; (vii) the Company’s ability to open and operate stores successfully; (viii) seasonal fluctuations in the Company’s business; (ix) competition in the Company’s market, including promotional and pricing competition; (x) the Company’s ability to retain, recruit and train key personnel; (xi) the Company’s reliance on third parties to manage some aspects of its business; (xii) the Company’s reliance on foreign sources of production; (xiii) the Company’s ability to protect its trademarks and other intellectual property rights; (xiv) the Company’s ability to maintain, and its reliance on, its information technology infrastructure; (xv) the effects of government regulation; (xvi) the control of the Company by its largest shareholder and any potential change of ownership of the Company including the shares held by its largest shareholder; (xvii) the impact of tariff increases or new tariffs; (xviii) risks arising from the delisting of trading of the Company’s common stock on the NYSE; (xix) risks and uncertainties relating to the Chapter 11 cases, including but not limited to, the Company’s ability to obtain
Source: RTW Retailwinds, Inc.