FTF Closet : RTW Retailwinds Announces Execution of Asset Purchase Agreement with Sunrise Brands for the Sale of its e-Commerce Business

RTW Retailwinds, Inc. [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 Sunrise Brands, LLC for the sale of its e-commerce business and all related intellectual property, including its websites, www.nyandcompany.com, www.fashiontofigure.com and its rental subscription businesses at www.nyandcompanycloset.com and www.fashiontofigurecloset.com for a cash purchase price of $20 million plus assumption of certain liabilities, including honoring gift cards, subject to closing adjustments. The agreement is subject to final approval by the Bankruptcy Court.