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Department store chain Lord & Taylor is filing for bankruptcy

Chic department store chain Lord & Taylor and its owner, clothing rental company Le Tote Inc., have filed for bankruptcy protection. The filing Sunday at the US Bankruptcy Court in Richmond, Virginia came less than a year after Le Tote’s Hudson’s Bay Co. chain. for a $ 100 million deal. Lord & Taylor, according to the filing, has 38 locations in the United States and approximately 650 employees. Some of the stores, which have been closed since March due to the pandemic, are said to have closed had new “shop closing” signs made up Sunday. Department stores have been particularly hard hit by the pandemic, and Lord & Taylor’s bankruptcy filing follows that of JCPenney Co., Neiman Marcus Inc. and J. Crew Co.