Lord & Taylor is reportedly preparing to liquidate its stores and could close them permanently
The company has selected liquidators to operate its going-out-of-business sales and is preparing to permanently close its stores following those sales, according to the report.
The nearly 200-year-old department store chain has closed all 38 of its stores due to coronavirus restrictions. A spokesperson for Lord & Taylor parent company Le Tote told Business Insider, "The company is working through various options at this time and is declining to comment."Additional financing or some other intervention could enable the company to avoid liquidation, Reuters' sources said.
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