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RTW Retailwinds data files for bankruptcy, to near hundreds of stores



RTW Retailwinds files for bankruptcy, to close hundreds of stores

A pedestrian carrying a protective mask walks near a temporarily shut New York & Co. keep in Silver Spring, Maryland, U.S., on Friday, June 5, 2020.

Andrew Harrer | Bloomberg | Getty Visuals

New York & Co. mum or dad business RTW Retailwinds declared Monday it experienced filed for Chapter 11 personal bankruptcy safety and plans to permanently close most, if not all, of its suppliers. 

The corporation explained it has kicked off liquidation product sales now, with about 92% of its bricks-and-mortar areas again open up through the coronavirus pandemic. It claimed it is evaluating probably selling its e-commerce operations and similar mental home in individual bankruptcy proceedings. 

RTW Retailwinds now joins a rising record of merchants that have submitted for personal bankruptcy in the course of the Covid-19 crisis, as companies have been strained for liquidity with their stores forced shut. Other victims include Neiman Marcus, J.Crew, J.C. Penney, Brooks Brothers and Lucky Manufacturer. 

“The blended consequences of a demanding retail natural environment coupled with the influence of the Coronavirus pandemic have brought about significant financial distress on our small business, and we count on it to proceed to do so in the future,” RTW Retailwinds CEO and CFO Sheamus Toal mentioned in a statement. 

“As a end result, we believe that a restructuring of our liabilities and a opportunity sale of the enterprise or parts of the business is the ideal path ahead to unlock price.” 

RTW Retailwinds operates 378 retail and outlet outlets in 32 states, according to its internet site. In addition to New York & Co., some of its other models include Fashion to Determine and Content x Character. 

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The company on June 3 experienced by now warned there was “a sizeable question” about its capacity to continue as a heading worry, calling a bankruptcy submitting “probable.” It also warned at the time it might be in default of a financial loan settlement with Wells Fargo. 

RTW Retailwinds mentioned Monday it anticipates entirely repaying the around $12.7 million remaining outstanding harmony underneath that distinct bank loan agreement. 

Browse the comprehensive press release listed here. 

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Portuguese plan to save energy, explosions on Russian gas pipelines and other TSF events



Portuguese plan to save energy, explosions on Russian gas pipelines and other TSF events

Details of the energy saving plan laid out by the government were released on Tuesday. The document, published in Diário da República, includes measures for the efficient use of water, public lighting and temperature limits in air conditioners.

For example, from December 6, 2022 to January 6, 2023, Christmas lighting in Portugal should only be on from 18:00 to 24:00.

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The abolition of fees for teaching Portuguese abroad will not be accepted by parliament, MP says – Observer



The abolition of fees for teaching Portuguese abroad will not be accepted by parliament, MP says - Observer

According to Socialist MP Paulo Pisco, the views of the BE, PCP and PAN on the abolition of fees for teaching Portuguese abroad were voted on Tuesday in a parliamentary committee.

The Committee on Foreign Affairs and Portuguese Communities voted on Tuesday in favor of four projects – from the Left Bloc, the Communist Party of Portugal, “People-Animal-Nature” and “Enough”, which mainly advocate the abolition of fees for teaching Portuguese abroad and free school textbooks.

According to Paulo Pisco, a socialist member of the commission, the opinions of the BE, PKP and PAN were approved, but Chega’s opinion deserved to be abstained from the PS because it contained “xenophobic elements” in its purpose.

The MP had in mind, in particular, the recipients of this teaching, which is currently intended not only for the Portuguese or the descendants of the Portuguese, but also for those who want to learn the Portuguese language, with which Chega allegedly disagrees, according to Paulo Pisco. .


After the approval of these opinions, the abolition of the bribe would be discussed and voted on in the plenary session of the Assembly of the Republic, but Paulo Pisco said that they should not be approved, since the “commitment” of the government is different.

“The government’s obligation is to reduce the burden of the Portuguese” and this will always be determined “in every approved state budget”.

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Portuguese health minister rejects conflict of interest over marriage to president



The health minister said there was no conflict of interest in her marriage to the current chairman of the Order of Dietitians, saying that the trusteeship of that body had been delegated to the Secretary of State for Health Promotion.

Portugal Digital with Lusa

“Honestly, I don’t think it exists. I have no doubt that this Lady Secretary of State will fill this leadership role,” Manuel Pizarro said on Monday (age 26) on the sidelines of the Pharmacist’s Day celebrations in Sintra, in the Lisbon area.

Aware of the possible conflict of interest, Manuel Pizarro explained that he took “the most appropriate measure (…)”, which was to entrust the functions of guardianship of the Order of Nutritionists to Margarida Tavares.”

“(…) Since I took office as a minister, I have been aware that, since professional organizations have an administrative oversight role, (…) there is a risk of conflict of interest, and I have taken the measures that seem to me the most appropriate, which from the very decided at the outset that he would delegate this oversight function over the Order of Nutritionists to the Secretary of State for Health Promotion,” he stressed.

When asked about the reasons why Margarida Tavares’ name still does not appear in the Diário da República, the official said that “it was necessary to wait for the inauguration of the secretaries of state” and then “to organize the whole process of delegation of authority.” .

“It’s even a good chance that there is a Secretary of State for Health Promotion. I think custody of the Order of Dietitians has been well handed over to the Secretary of State for Health Promotion,” he repeated, noting that “he definitely won’t go through the Minister’s order.” [da Saúde]”.

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“If the secretary of state is responsible for this, it should not go through the minister,” he stressed.

Manuel Pizarro’s statements came after news that the government official may have a conflict of interest because he is married to the chairman of the Order of Dietitians, Alexandra Bento.

The Order of Dietitians was created in 2011 with the approval of the current Minister of Health, who at the time served as Secretary of State for Health.

In addition, Alexandra Bento was the only President of the Order of Occupational Health to attend the inauguration of Manuel Pizarro on 10 September.

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