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Lord & Taylor is latest retailer to file for bankruptcy

New York landmark retailer Lord & Taylor has filed for bankruptcy.  (CNN/file)
New York landmark retailer Lord & Taylor has filed for bankruptcy. (CNN/file)(Source: CNN)
Published: Aug. 3, 2020 at 1:54 PM CDT
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NEW YORK (AP) - New York landmark retailer Lord & Taylor has filed for bankruptcy.

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.

Like many retailers, it was already struggling with the shift to online shopping even before the pandemic struck this spring.

The company was founded as a dry goods store in 1826.

Last year, it sold its flagship building on New York’s Fifth Avenue after more than a century in the 11-story building.

There are several dozen Lord & Taylor stores across the country.

(Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)

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