What’s Next for Lord & Taylor Following Bankruptcy Filing
Once beloved for work and occasion wear, the 194-year-old department store succumbs to the pandemic
Lord & Taylor's venerable location on Fifth Avenue was sold by Hudon's Bay to WeWork in 2019.
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Key insights:
- The sale of Lord & Taylor to Le Tote failed to either save the department store or help the accessories retailer grow.
- Lord & Taylor was one of the few regional chains remaining, other than Belk and Dillard's.
Lord & Taylor is the latest venerable retailer, with a history stretching back to 1826, that has succumbed to the pandemic by filing for Chapter 11 in Virginia on Sunday, along with its parent company Le Tote.
