Reuters exclusively reported that venerable U.S. retailer Lord & Taylor plans to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus are lifted, as it braces for a bankruptcy process from which it does not expect to emerge. Lord & Taylorâ€™s preparations to liquidate its inventory as soon as its stores reopen offers a window into the grim future of a high-profile retailer â€“ a storied department store chain founded in 1826 and billed as the oldest in the United States â€“ that does not expect to survive the pandemicâ€™s economic fallout.
Reuters exclusively reports Lord & Taylor to liquidate its stores as soon as they reopen
05 May 2020, 12:00 am 1 minute
Type: Reuters Best