Wednesday, May 6, 2020

Lord & Taylor to liquidate its stores as soon as they reopen

wincountry.com
Venerable U.S. retailer Lord & Taylor plans to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus are lifted as it braces for a bankruptcy process from which it does not expect to emerge, people familiar with the matter said on Tuesday.

Lord & Taylor's preparations to liquidate its inventory as soon as its stores reopen offer a window into the grim future of a high-profile retailer - a storied department store chain founded in 1826 and billed as the oldest in the United States - that does not expect to survive the pandemic's economic fallout.. . . more

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