For all its glamorous history, the 194-year-old Lord & Taylor entered bankruptcy as one of the walking dead, down to its last $2.8 million and with most of its 38 stores closed
Department-store chain Lord & Taylor kicked off its bankruptcy proceeding Monday with a full-page newspaper ad announcing its search for a new owner, but it has little time or money to reach a deal.
America’s oldest department store, founded in 1826, heralded its “fierce commitment” to preserving its brand in an ad in the Washington Post. But the storied retailer was down to its last $2.8 million when it filed for chapter 11 protection Sunday, and all its money is tied up by lenders, court papers say.
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Department-store chain Lord & Taylor files for bankruptcyUpscale department-store chain Lord & Taylor and its owner, clothing rental startup Le Tote Inc., have filed for Chapter 11 bankruptcy protection. The filing...
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Lord & Taylor, the country’s oldest department store chain, files for bankruptcyThe department store chain joins about a dozen iconic retailers that have succumbed to Chapter 11 protection during the pandemic.
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Lord & Taylor, Oldest U.S. Department Store, Files For BankruptcyThe retailer was acquired in 2019 by online clothing-rental startup called Le Tote. It joins a cascade of bankruptcies by major apparel stores, triggered by the doldrums of the coronavirus pandemic.
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Lord & Taylor Surprises Sunday Shoppers With “Store Closing” Signs At Many Locations, Files For BankruptcyDespite its well-publicized financial woes, it still came as a surprise when shoppers showed up at many Lord & Taylor locations late Sunday morning and found “Store Closing Signs” posted in the windows. And by the end of the day, the retailer found itself in Bankruptcy Court.
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Lord & Taylor Surprises Shoppers With ‘Store Closing’ Signs At Many Locations, Files For BankruptcyLord & Taylor’s parent firm, Le Tote, also filed for bankruptcy protection over the weekend.
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