As America's first and oldest department store, Lord & Taylor has been the favorite store for generations of shoppers and launched the careers of several American designers. Founded by Jack Saadia in 1996 and headquartered in New York, Saadia Group has become a leader in online sales since then, bringing each of its portfolio brands to the forefront of e-commerce by utilizing Sellerclouds Skustack and Skublox. White Oak Commercial Finance, LLC, an affiliate of White Oak Global Advisors, LLC, announced it provided a $25 million ABL facility to Saadia Group, LLC for the acquisition of two women's apparel brands from e-commerce retailer, RTW Retailwinds Inc. ("RTW"), which is undergoing bankruptcy proceedings. In the fall of 2019, Saadia Group bought the e-commerce business of RTW Retailwinds Inc., the company that owned New York & Company and Fashion to Figure, a large-size women's chain, for $40 million. The 41,000-square-foot space is a far cry from what Lord & Taylor was before it gave up its flagship. Catering to a diversified portfolio of consumer products across multiple categories targeting all age demographics from Fashion Apparel in Men's, Women's & Kids, Footwear, Women's Handbags, Home Textiles, Furniture/Dcor & Tech Accessories and more. New York, NY 10001-3011. Saadia Mirza - Business Manager - YourSolemates | LinkedIn Asking rent was $49 per square foot, a source with knowledge of the deal said. We are excited to offer our product development expertise to relaunch her line bigger than before, with product at New York & Company and a debut at Lord & Taylor," said Jack Saadia, principal and cofounder of The Saadia Group.. "Our customers have been asking for the . White Oak Commercial Finance Provides $25 Million ABL Facility for Saadia Group - Crunchbase Company Profile & Funding Saadia Group to Operate the e-Commerce Business as an Ongoing Business QVC complex in West Hempfield sold for $15M; future tenant could create The relaunch comes after Lord & Taylor shuttered all its stores in 2021, following its acquisition by The Saadia Group in 2019 in a bankruptcy auction. Lord & Taylor making a comeback with new Midtown HQ - Crain's New York Lord & Taylor relaunches, online only | Retail Dive In the past year, weve seen retailers like Century 21 and Lord & Taylor shut down only to announce plans to reopen months later. We are looking at a vastly updated assortment, limitless digital aisles and many more exciting experiences," says Jack Saadia, principal and co-founder of The Saadia Group. Retail brand leaders will gather at Commerceweek to discuss how to reimagine the customer journey. Alongside classic favorites, the updated assortment will focus on up-and-coming and emerging brands. We are leaders in multi-category Product Manufacturing, Wholesaling and Retailing. This press release contains certain forward-looking statements, including statements made within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Kbabieh also praised how simple the picking process became. Will subleases flood the market? Company principle Jack Saadia has not said whether physical . : *****0133. Catering to a diversified portfolio of consumer products across multiple categories targeting all age demographics from Fashion Apparel in Men's, Women's & Kids, Footwear, Women's Handbags, Home Textiles, Furniture/Dcor & Tech Accessories and more. The Saadia Group Announces the Official Digital Launch of - Insider Skustack eliminated questions like where is this? We know exactly where everything is at all times, Jack Saadia mentioned. As for the Lord & Taylor building, it has changed hands several times since the retailer moved out. Who we are - Saadia Group Saadia Group said it is "the perfect label to begin their portfolio within the luxury fashion world". We are leaders in multi-category Product Manufacturing, Wholesaling and Retailing. color:rgb(46,179,178); "We are excited to have Gabrielle Union join the Saadia Group, her brand is the perfect fit for our family of brands. HEARING: 08/04/21. Saadia Group Acquires Visibility Across its Portfolio with NetSuite. Saadia said he's pulled together a "full team" of 40 including merchants, IT workers, operations and finance executives for Lord & Taylor. Saadia Group has agreed to acquire the assets of its first luxury fashion label, Aquatalia, from Global Brands Group in a $23 million cash deal. View source version on businesswire.com: https://www.businesswire.com/news/home/20201002005463/en/, Fed's Barkin says he could see rates at 5.5%-5.75%, Silvergate suspends crypto payments network; shares fall after-hours, Argentina inflation seen speeding in 2023, central bank poll shows, GEMINI SAYS INVESTIGATING REPORTS OF POTENTIAL SERVICE DISRUPTIO, Ex-Goldman banker Ng deserves 15 years in prison, US prosecutors say, Storms in US South kill at least 7, head to Northeast, MUSK DELAYED PAYING TWITTER'S AMAZON CLOUD BILL, SPARKING AD THR, SILVERGATE SAYS SILVERGATE BANK HAS MADE A RISK-BASED DECISION, Indonesian officials call for audit after Pertamina fire kills 13, TWITTER'S REVENUE, ADJUSTED EARNINGS FELL ABOUT 40% IN MONTH OF. The firm signed a sublease with Cushman & Wakefield for the space at RPW Group's 43-story Midtown building between 39th and 40th streets, Crain's New York first reported. A buyer financed by the private investment firm of Michael S. Dell boosted its bid at the last minute to win the most valuable properties of bankrupt retailer Toys "R" Us Inc. in a court . Today's unveiling is just . It also picked up the e-commerce business of. } Jack Saadia, principal and co-founder of Saadia Group said: "The addition of Aquatalia to our growing family of brands strengthens our reach and the ability to serve additional consumers. Some 20,000 U.S. stores closed in 2020, and investment bank UBS projected another 80,000 will shutter through 2026. Saadia purchased New York & Co. and sister brand Fashion to Figure, a plus-size retailer, for $40 million. White Oak Provides $25MM ABL to Saadia Group - ABFJournal last year, which it has kept operational even as the retail shops shuttered. SAADIA GROUP LLC :: New York (US) :: OpenCorporates We believe in the New York & Company. Jack Saadia is the Finance Manager, Principal, and Co-founder at Saadia Group. Sheamus Toal, Chief Executive Officer of RTW, commented: We are delighted to have successfully closed on the sale of our business, maintaining the legacy of our New York & Company brand and continuing Fashion to Figures tremendous growth. If you would like to customise your choices, click 'Manage privacy settings'. Don't miss the chance to get the biggest news first! Stay connected to New York business news in print and online. Mr. Jack Saadia, Principal and Co-Founder, Saadia Group Additional Contact Information Fax Numbers (212) 884-2396 Primary Fax Phone Numbers (212) 884-2000 Other Phone (276) 670-2139 Other. Factors that could cause the Company's actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to, (i) the risks associated with the spread of COVID-19 and its impact on the Company's sales and supply chain; (ii) the Company's ability to anticipate and respond to fashion trends; (iii) the impact of general economic conditions and their effect on consumer confidence and spending patterns; (iv) changes in the cost of raw materials, distribution services or labor; (v) the potential for economic conditions to negatively impact the Company's merchandise vendors and their ability to deliver products; (vi) seasonal fluctuations in the Company's business; (vii) competition in the Company's market, including promotional and pricing competition; (viii) the Company's ability to retain, recruit and train key personnel; (ix) the Company's reliance on third parties to manage some aspects of its business; (x) the Company's reliance on foreign sources of production; (xi) the Company's ability to protect its trademarks and other intellectual property rights; (xii) the Company's ability to maintain, and its reliance on, its information technology infrastructure; (xiii) the effects of government regulation; (xiv) the control of the Company by its largest shareholder and any potential change of ownership of the Company including the shares held by its largest shareholder; (xv) the impact of tariff increases or new tariffs; (xvi) risks arising from the delisting of trading of the Companys common stock on the NYSE; (xvii) risks and uncertainties relating to the Chapter 11 cases, including but not limited to, the Companys ability to obtain Bankruptcy Court approval with respect to motions filed in the Chapter 11 cases; (xviii) the effects of the Chapter 11 cases on the Company and on the interests of various constituents; (xix) Bankruptcy Court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases in general; (xx) the length of time the Company will operate under the Chapter 11 cases; (xxi) risks associated with third party motions in the Chapter 11 cases; (xxii) the potential adverse effects of the Chapter 11 cases on the Companys liquidity or results of operations and increased legal and other professional costs necessary in the Chapter 11 cases; (xxiii) uncertainty associated with evaluating and completing any strategic or financial alternative, as well as the Companys ability to implement and realize any anticipated benefits associated with any alternative that may be pursued; (xxiv) the Companys liquidity and ability to continue as a going concern; (xxv) risks associated with any default under the Companys debt agreement; (xxvi) risks associated with the Companys ability to make payments on and to repay or refinance the Companys debt or generate sufficient cash; (xxvii) the Companys equity securities will be cancelled on or before the conclusion of the Companys Chapter 11 cases with no payment or other distribution thereon; and (xxviii) those discussed under the heading "Item 1A. We hold these values proud and high throughout the company, our community, and in our way of doing business. . Now Saadia Group is planning Lord & Taylor's revival with a revamped website that initially will focus on women's and men's apparel, homewares and beauty, according to Women's Wear Daily. Jack Saadia - Principal - Cofounder - Saadia Group LLC | LinkedIn NEW YORK, Sept. 22, 2021 /PRNewswire/ -- Saadia Group, a multi-brand, end-to-end platform known for being leaders in product manufacturing, wholesaling, retailing, and distribution, proudly announced today that it has agreed to acquire the assets of its first luxury fashion label, Aquatalia, from Global Brands Group. Saadia Group LLC 1 W 34th Street, 10th Floor, New York, NY 10001 Catering to a diversified portfolio of consumer products across multiple categories targeting all age demographics from Fashion Apparel in Men's, Women's & Kids, Footwear, Women's Handbags, Home Textiles, Furniture/Dcor & Tech Accessories and more. "Lord & Taylor has a deep retail history that spans 195 years and a tradition of innovation and countless fashion firsts," said Jack Saadia, principal and cofounder of the Saadia Group. Saadia Group, Lord & Taylors new owner, is taking the once-sprawling retail empire, which had anchored a 660,000-square-foot building on Fifth Avenue, and packing it into three floors of a Midtown office. In 2020Amazon took it off WeWorks hands for nearly $1 billion. . Looking to the future, we believe the new company is well-positioned for organic growth within the digital space with both the New York & Company and Fashion to Figure brands. Jack Saadia, principal and cofounder of Saadia Group, said his business has "continued to shift and grow, especially through the pandemic . In a statement, co-founder and principal Jack Saadia said it marks "just the beginning" for the nearly 200-year-old department store. }. Saadia Group to Operate the e-Commerce Business as an Ongoing Business. Lord and Taylor reintroduced as digital collective store SEC .article-native-ad { The Digital Collective is a nimble way for the brand to continue existing with its rich, 195-year history. Finally, I wanted to thank the Retailwinds, Inc. Board of Directors, who supported us through this process as well as our extraordinary team of legal and financial advisors from Cole Schotz, BRG and our investment banker, B. Riley Securities, who were able to attract several interested parties and execute this transaction in the middle of an unprecedented pandemic., Jack Saadia, Chief Executive Officer of Saadia Group, LLC, commented: We are delighted to have successfully closed on the purchase of this business. 542) was offered as evidence by Saadia. C&W put the 275 Madison office which it took over after it acquired Massey Knakal up for sublease before the coronavirus pandemic hit, and Saadia was able to nab the space at a 30 percent discount compared with direct spaces in the building, according to tenant broker Savills.
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