Lord & Taylor liquidating more stores

Things aren't looking good for Lord & Taylor. The company, which recently filed for bankruptcy, has added five more stores to their liquidation process. The news was reported by CNN. This brings the total count of Lord & Taylor stores being liquidated to 24. Prior to liquidation, Lord & Taylor operated 38 brick-and-mortar stores.

The five stores being liquidated include locations in Schaumburg, Illinois., Salem, New Hampshire, Rockaway, New Jersey, Livingston, New Jersey, and Huntington Station, New York. Lord & Taylor's parent company Le Tote filed for bankruptcy on August 2, and is looking for a buyer for the fabled retail chain. The department store chain's physical footprint continues to shrink, but if they find a buyer a few stores could remain operational along with their e-commerce channels.

One of the most crushing moments in Lord & Taylor's history is when they had to shut down their iconic Fifth Avenue flagship store. This came after years of compounded worries over poor performance as the department store struggled to compete in an e-commerce landscape and attract younger consumers. Like most retailers, Lord & Taylor was also gravely impacted by the coronavirus pandemic, which further aggrandized their already dire situation.

photo: via Lord & Taylor Facebook page