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Five more stores are closing, bringing the total number of Lord & Taylor stores closed to 24. That leaves just 14 stores open, a remarkable drop for the nearly 200-year-old retailer – the first department store established in the States. -United. States.
Inventory sales will be up to 40% off, the company said Thursday, even with store fixtures being sold at “attractive prices.” It is not known how long the sales will last. Lord & Taylor mainly has locations on the east coast.
Lord & Taylor filed for bankruptcy on August 2, joining a string of high-end retailers filing for Chapter 11 in recent months, including Neiman Marcus and Brooks Brothers.
The company was once a mainstay of high-end fashion. The Hudson’s Bay Company acquired Lord & Taylor in 2012 before selling it in 2019 to Le Tote, Inc., a fashion rental subscription service, for $ 75 million. The Tote attempted to revive the brand with a pop-up store in New York City and remodel its remaining stores with an emphasis on technology.
A full list of store closings is available here.
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