Advertisement

Updated August 3rd, 2020 at 15:26 IST

Lord & Taylor is latest retailer to file for bankruptcy

New York landmark retailer Lord & Taylor has filed for bankruptcy, joining a growing list of retailers flummoxed by the pandemic.

Lord & Taylor is latest retailer to file for bankruptcy
| Image:self
Advertisement

New York landmark retailer Lord & Taylor has filed for bankruptcy, joining a growing list of retailers flummoxed by the pandemic.

The company, which was sold to the French rental clothing company Le Tote Inc. last year, filed Sunday for bankruptcy protection in the Eastern Court of Virginia.

In an announcement on its website the company, one of the oldest American department stores, said it was looking for a new owner.

Like many retailers, Lord & Taylor was already struggling with the shift to online shopping even before the pandemic struck this spring. Last year, it sold its flagship building on New York’s Fifth Avenue after more than a century in the 11-story building.

The company was founded as a dry goods store in 1826. There are several dozen Lord & Taylor stores across the country.

(Image Credit Pixabay)

Advertisement

Published August 3rd, 2020 at 15:26 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement

Trending Quicks

Rape Case
a few seconds ago
Kashmiri Lakes
a minute ago
Elon Musk X lawsuit
8 minutes ago
Government bonds
9 minutes ago
Beans
11 minutes ago
Supriya Shrinate clarification
17 minutes ago
vk saxena
21 minutes ago
Shahjahan Sheikh in CBI Custody: First Visual Emerges | WATCH
21 minutes ago
Pakistan Supreme Court
23 minutes ago
AR Rahman, Ram Charan
25 minutes ago
Advertisement
Advertisement
Advertisement
Whatsapp logo