Lord & Taylor filed for bankruptcy on Aug. 2. Fashion rental service startup Le Tote acquired the apparel chain last year from Saks Fifth Avenue owner Hudson’s Bay for around $74 million.
Hudson’s Bay agreed in 2017 to sell Lord & Taylor’s Manhattan flagship building to WeWork for $850 million. Other retailers including Brooks Brothers, Neiman Marcus, J.C. Penney and J.Crew filed for Chapter 11 this year.
Source: Real Estate Daily Report (realestatedailyreport.net)
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