Department-store chain Lord & Taylor kicked off its bankruptcy proceeding Monday with a full-page newspaper ad announcing its search for a new owner, but it has little time or money to reach a deal.
America’s oldest department store, founded in 1826, heralded its “fierce commitment” to preserving its brand in an ad in the Washington Post. But the storied retailer was down to its last $2.8 million when it filed for chapter 11 protection Sunday, and all its money is tied up by lenders, court papers say.
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August 04, 2020 at 06:06AM
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Lord & Taylor Limps Into Bankruptcy Looking for a Suitor - Wall Street Journal
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