Update 7/13/20: The parent company of New York & Company has now filed for bankruptcy and is preparing for the closure of most – or possibly all – its stores. If you’re holding their gift cards, now is the time to offload them whether that’s reselling them cheaply or redeeming them for personal use.
A few weeks ago we shared the news that New York & Company had submitted filings with the SEC warning investors of the risk of going bankrupt.
Things haven’t improved since then and their parent company is reportedly preparing to file for bankruptcy. While filing for bankruptcy isn’t a death sentence in itself, their plans potentially involve the permanent closure of most – if not all – of its almost 400 stores nationwide.
If you’re currently holding any New York & Company gift cards, it might be wise to try using them up sooner rather than later.