Reuters exclusively reports Lord & Taylor to liquidate its stores as soon as they reopen

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 & Taylor’s preparations to liquidate its inventory as soon as its stores reopen offers a window into the grim future of a high-profile retailer – a storied department store chain founded in 1826 and billed as the oldest in the United States – that does not expect to survive the pandemic’s economic fallout.