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The Worth Collection, a Direct-to-Consumer Business, Faces a Tenuous Future

The future of the Worth Collection, a direct-to-consumer women’s apparel business, appears to be questionable. The Worth Collection site, which also showcased the more affordable W by Worth contemporary sportswear label, was no longer operating Friday afternoon. In 2016, an affiliate of New Water Capital, L.P. (New Water) acquired The Worth Collection, that operates “Worth New York” and the contemporary label “W by Worth.” Terms of the deal were not disclosed at that time. Someone familiar with the agreement said that Worth had “zero debt” at that time. New Water spent $40 million and took on $20 million in debt to do so, according to an industry source said. Plans to flip The Worth Collection in two to three years did not pan out, according to an industry source. In an interview Thursday, New Water Capital’s manager Brian McGee presented three possible scenarios. “There are three outcomes — one, the business sells to someone…two, the assets sell…There are obviously other competitors in this space. There is a nice brand here and a customer list [referring to Worth.] Part three is it continues to wind down and just winds down at some level. Those three things are on the table.” An asking price had not

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