FILE PHOTO: Mannequins remain in the windowsill of a closed Lord and Taylor department retail clothing store at the Wisconsin Place shopping center, as the coronavirus disease outbreak continues in Washington, U.S., April 29, 2020. REUTERS/Tom Brenner
Retailers that pursue a liquidation hold “going out of business” sales in order to generate cash, and their stores often become magnets for consumers looking for bargains. Lord & Taylor is holding off on a bankruptcy filing and subsequent liquidation until it can reopen its stores to attract those shoppers, according to the sources, who spoke on condition of anonymity.
Fashion rental service start-up Le Tote acquired Lord & Taylor last year from Saks Fifth Avenue owner Hudson’s Bay Company for C$100 million . Lord & Taylor opened its flagship store on Manhattan’s Fifth Avenue in 1914, and became known for upscale fashion and its holiday window display.
They had thee most beautiful clothes
Takes these abandoned retail properties and malls and turn them into affordable housing units/villages.
One month closed and ur bankrupt? Ok great business 👏🏼👏🏼👋🏽👋🏽
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