YET another storied clothing retailer has found itself no match for the financial pain brought on by the pandemic. Lord & Taylor, the department store chain that was once a star among the glittering emporiums of Fifth Avenue, has filed for Chapter 11 bankruptcy.
Lord & Taylor filed along with Le Tote, the startup clothing rental company that had acquired the department store for US$100mil last year in one of the weirder plot twists of the industry’s move toward e-commerce.
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