New York & Company, Inc. Announces Acquisition of Fashion to Figure
NEW YORK & CO (NWY)
Last new york & co earnings: 8/23 04:01 pm
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Source: Business Wire
~ Entered an agreement to acquire all intellectual property and select other assets ~ NEW YORK--(BUSINESS WIRE)-- New York & Company, Inc. [NYSE:NWY] (the “Company”), a specialty women’s apparel chain with 459 retail stores, today announced that it has entered into an asset purchase agreement to acquire certain assets of Fashion to Figure, a U.S. based retailer of trendy plus-size fashions, including intellectual property rights related to the Fashion to Figure® brand, for a cash purchase price of $1.4 million plus no more than $1.0 million of fees and expenses. The assets will be acquired by TFT Acquisition LLC, as the successful bidder at an auction run by Fashion to Figure, as part of its ongoing reorganization under Chapter 11 of the U.S. Bankruptcy Code and will be subsequently acquired by New York & Company late in the fourth quarter of fiscal 2017. The asset purchase agreement covers all intellect
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