Lord & Taylor, oldest U.S. department store, files for bankruptcy

by Jordyn Pair · Aug 3rd, 2020 10:48 am
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Last Updated Aug 4th, 2020 at 12:12 pm

Lord & Taylor, the oldest department store in the U.S., filed for Chapter 11 bankruptcy in Virginia on Sunday.

The store, known for its upscale fashion and holiday window displays, was originally founded in Manhattan in 1826. It currently has 38 stores and 651 employees and carries roughly $137.9 million in debt.

Le Tote Inc. bought the company's stores, brand, and e-commerce site for $71 million last year.

? Lord & Taylor joins a growing list of stores hit by the fallout of the pandemic. J. Crew Group Inc. and Neiman Marcus Inc. also filed for bankruptcy protection earlier this year.


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