NEW YORK: Venerable US retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector.
The company estimated both assets and liabilities in the range of US$100mil to US$500mil, its filing in the US Bankruptcy Court for the Eastern District of Virginia showed.
A storied department store chain founded in 1826, billed as the oldest in the US, Lord & Taylor had been exploring other options as well as filing for bankruptcy. Big names that already filed for Chapter 11 include J Crew Group, JC Penney and Neiman Marcus in May. — Reuters
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