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Fashion News: Lord & Taylor files for Bankruptcy.

Lord & Taylor has filed for bankruptcy protection on Sunday August 2nd, joining the ranks of J Crew, Neiman Marcus, and many others as Covid-19 continues it’s demise of fashion retail chains.

lord-taylor-new-york-store-closingLord & Taylor the oldest U.S. department store which catered to luxury high fashion customers, and known for it’s glamorous holiday window displays was founded in Manhattan by two English immigrants in 1826 told the bankruptcy court they have .about $138 million in debt.

lord-taylor-launching-store-closing-sale-today-at-its-5th-avenue-locationLe Tote Inc. the fashion apparel rental company, which brought Lord & Taylor last year for about $71 million has also filed for Chapter 11, and is currently looking of a buyer. The future of the luxury icon is uncertain at this time as well as the in store Barney’s boutique’s which was a part of Barney’s bankruptcy agreement.

 

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