New York & Company Could Close All Hudson Valley Stores
The latest retailer to announce a bankruptcy filing is New York & Company.
USA Today reports that New York & Company officially filed for Chapter 11 Bankruptcy. Parent company RTW Retailwins announced that the brand has begun a store closing and liquidation process. The COVID-19 pandemic had led to the filing after shopping malls were forced to close, making the loss of foot traffic an even bigger problem.
The Hudson Valley has two New York & Company locations. One is in the Newburgh Mall and the other is in the Galleria at Crystal Run in Newburgh. There is also a location in the lower Hudson Valley at the Jefferson Valley Mall in Yorktown Heights. It is unclear if these locations will be closing at the time. No specific closures have been announced yet.
Plenty of businesses have announced closures and bankruptcy filings. Sur La Table, a cookware store, announced they were filing for bankruptcy and closing all Hudson Valley locations, Bed Bath & Beyond announced they would be closing 200 stores. Last month, Starbucks announced they would be closing 400 locations. It was announced that Over 200 Kay Jewelers, Zales, and Jared locations would be closing. In May 2020, L Brands, the parent company of Victoria's Secret and Bath and Body Works, announced store closures. 250 Victoria's Secret locations will permanently close and 50 Bath and Body Works locations will close. It was also announced that Pier 1 Imports will be permanently closing all locations. This came after the company had already filed for bankruptcy and planned to close some locations. The COVID-19 shutdown forced the company to close all locations.
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