Lord & Taylor and its owner, Le Tote, have filed for Chapter 11 bankruptcy. Le Tote purchased Lord & Taylor in a $US100 million deal last summer, with plans to integrate its rental services and invest in the department store’s online business. Visit Business Insider’s homepage for more stories. Last […]
Department stores were already facing challenges in the form of sales declines and debt. Then, the pandemic hit. Of the 28 major retailers that have filed for bankruptcy so far in 2020, three are department stores. Department stores will likely have to evolve to survive, whether that evolution takes the […]
The nearly 200-year-old Lord & Taylor announced on Monday that it is filing for Chapter 11 bankruptcy protection, joining JCPenney and Neiman Marcus as the latest victim of the coronavirus outbreak. In a post published on its website, Lord & Taylor wrote that it is looking for a new owner. […]
Lord & Taylor kicked off liquidation sales on Sunday at 19 stores in 10 states as it filed for bankruptcy. The department-store chain is preparing to initiate store-closing sales at all its remaining stores, while simultaneously looking for a buyer for some of its most profitable locations. If a buyer […]
Lord & Taylor is reportedly preparing to liquidate its stores as soon as they reopen, Reuters reports. The nearly 200-year-old department store chain has closed all 38 of its stores due to coronavirus restrictions. “The company is working through various options at this time and is declining to comment,” a […]
Lord & Taylor quietly deleted its Instagram and Twitter accounts, and has stopped sharing updates to its official Facebook page. The company is going dark on social media less than a week after reports surfaced that the department store is considering filing for bankruptcy. While it was not immediately clear […]
Nordstorm opened its seven-floor New York City flagship this week, but experts are cautiously optimistic about what such a massive investment might mean for the business moving forward. Both analysts and customers alike expressed hesitation and uncertaintly about the store, particularly in the wake of Lord & Taylor closing its […]
After Le Tote‘s acquisition of Lord & Taylor, some experts are saying such partnerships between struggling department stores and emerging rental and subscription companies could serve as a vital lifeline as the retail apocalypse looms on. “The broader signal it sends is you need to be willing to meet your […]
The Wall Street Journal reported on Thursday that Amazon is in talks to lease the former Lord & Taylor flagship store as it continues its quest for office space in New York City. Amazon abandoned plans to build a controversial HQ2 campus in Queens in February. The building is currently […]
Department stores are no longer in their heyday. Many department stores have had to close locations this year, including Sears and JCPenney. There are multiple factors hurting department stores’ business, such as the rise of online shopping and declining foot traffic to malls. We visited locations of most major department […]
Sears filed for Chapter 11 bankruptcy protection on Monday, announcing it would be closing 142 Sears and Kmart stores and beginning liquidation sales at those locations immediately. Sears isn’t the only department store that has struggled recently. Macy’s and JCPenney have also had to close stores in recent years. There […]
WeWork announced on Tuesday that it had bought Meetup, a website for organising group trips and events. Terms of the deal weren’t announced, but Axios said the price was about $US200 million. Meetup is only one of a slew of new investments and purchases the $US20 billion startup has made […]
Walmart is adding Lord & Taylor and its...
Lord & Taylor’s flagship store in Manhattan was sold to WeWork for $US850 million in October. The retailer said it would rent around 25% of the space and operate as a scaled-down version of its former self. But on Tuesday, Lord & Taylor announced that it would be closing this […]
Walmart is entering a deal to sell Lord &...
Since the presidential election, retailers that...