Lord & Taylor files for bankruptcy, becoming the latest retail casualty of the coronavirus pandemic

Venerable U. S. retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector.

The company estimated both assets and liabilities in the range of $100 million to $500 million, its filing in the U. S. Bankruptcy Court for the Eastern District of Virginia showed.

A storied department store chain founded in 1826, billed as the oldest in the U. S., Lord & Taylor had been exploring other options as well as filing for bankruptcy. Big names that already filed for Chapter 11 include J Crew Group, JC Penney and Neiman Marcus in May, while Lucky Brand became a casualty of the pandemic in July.

Fashion rental service start-up Le Tote acquired Lord & Taylor last year from Saks Fifth Avenue owner Hudson's Bay ... (Read more)

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