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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 historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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