Lord & Taylor to shutter all stores after nearly 200 years of business


    Lord & Taylor has launched liquidation sales at all stores, including on its website. (Rick Moriarty | [email protected])Rick Moriarty | [email protected]

    Lord & Taylor announced Thursday that all of its 38 stores will permanently close after it originally planned to shutter only two dozen.

    Its Livingston, Rockaway and Wayne stores were already planning to close. Its six other New Jersey locations — in Bridgewater, Freehold Township, Lawrenceville, Westfield and two in Paramus (Garden State Plaza and Fashion Center) — will also now shutter.

    Lord & Taylor, which was founded in 1826, filed for Chapter 11 bankruptcy earlier this month after citing $137.9 million in debt obligations. Hudson’s Bay Company sold the department store for $75 million in 2019 to Le Tote, which also has since filed for bankruptcy.

    It has been a rough year for the brick-and-mortar retail industry, which already had been struggling.

    JCPenney, Neiman Marcus and Sears are department stores that also have filed for bankruptcy during the coronavirus pandemic, along with Brooks Brothers, New York & Company, Sur La Table, Pier 1 Imports and Lucky Brand.

    However, as the brick-and-mortal retail industry suffers, there have been huge spikes in online shopping over the past several months, and companies have pulled out all the stops to take advantage of the surge.

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    SOURCE: https://www.w24news.com

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