Lord & Taylor to File for Bankruptcy Lord & Taylor, which started
in 1826, adds that it is looking
for new ownership. According to 'USA Today,' rental
clothing company Le Tote Inc.
acquired the chain last year. Before COVID-19, Lord & Taylor
was already struggling due to
the rise of online shopping. After over 100 years, its most famous location
on N.Y.C.'s Fifth Avenue sold off in 2019. With the pandemic forcing the closure of
non-essential stores, Lord & Taylor's
path to bankruptcy accelerated. Currently, the chain
has several dozen
locations nationwide. Lord & Taylor is one of
40 retailers who have filed
for Chapter 11 in 2020.