Lord & Taylor to close remaining stores after company is not sold after bankruptcy


The first store ever built in the US closes its doors for good.

Lord and Taylor announced Thursday that they will close the remaining 38 stores.

The hefty retailer has been in business for 194 years, but he filed for bankruptcy on August 2.

The liquidator for the company said customers can expect deep discounts on trading both in stores and online.

Lord & Taylor was sold last year to the French rental clothing company Le Tote Inc.

After filing for bankruptcy, the company said it was looking for a new owner, but one did not come out.

Like many retailers, Lord & Taylor was already struggling with the shift to online shopping even before the coronavirus pandemic hit this spring.

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

The company was founded as a dry shop in 1826.

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