Le Tote

Lord & Taylor Files for Bankruptcy

Lord & Taylor, the floundering department store company that traces its roots to 1826, became the latest retailer to file for bankruptcy protection as the coronavirus outbreak accelerates the demise of chains that were already teetering. The chain was acquired last year from Hudson’s Bay by the clothing rental start-up Le Tote in an unusual $100 million deal. Now Le Tote and Lord & Taylor are both seeking Chapter 11 protection from their creditors in the U.S. Bankruptcy Court for the Eastern District of Virginia.