Saadia Group, LLC entered into an asset purchase agreement to acquire E-Commerce business from a group of sellers for $40 million on August 28, 2020. Sellers are RTW Retailwinds, Inc. and its wholly-owned direct and indirect subsidiaries. Saadia Group, LLC will acquire 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 together with certain other assets from RTW Retailwinds, Inc. (OTCPK:RTWI.Q), Lerner New York Holding, Inc., Lernco, Inc., Lerner New York, Inc., Lerner New York GC, LLC, Lerner New York Outlet, Inc., New York & Company Stores, Inc, FTF GC, LLC, Lerner New York FTF, LLC, Fashion to Figure, LLC and FTF IP Company, Inc. The consideration will consist of $40 million plus assumption of certain liabilities, including honoring gift cards, subject to closing adjustments. The Saadia Group, LLC asset purchase agreement supersedes the prior stalking horse asset purchase agreement announced on August 4, 2020 with Sunrise Brands, LLC. The transaction is subject to final approval by the bankruptcy court. As of September 4, 2020 the sale was approved by the Bankruptcy Court. Perry Mandarino and Gideon Rosenbaum of B. Riley Securities, Inc. acted as financial advisor, Ryan Jareck, Michael D. Sirota and Roger M. Iorio of Cole Schotz P.C. acted as legal advisor, and Bob Duffy and Rob Shapiro of Berkeley Research Group, LLC acted as financial advisor and restructuring advisor to RTW Retailwinds. Jeffery D. Dayon of Armstrong Teasdale LLP and Jamie L. Edmonson of Robinson & Cole LLP acted as legal advisors to Saadia Group.