Lord & Taylor

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Lord & Taylor
TypeSubsidiary
IndustryRetail
Founded1826 (195 years ago) (1826)
Headquarters424–434 Fifth Avenue, ,
U.S.
Products
  • Clothing
  • footwear
  • jewelry
  • beauty products
  • fragrances
  • electronics
  • bedding
  • housewares
Parent
Websitewww.lordandtaylor.com

Lord & Taylor was an American department store chain, which has now become an e-commerce retailer. It was America's oldest department store, staying in business from 1826 to 2021.[1] At the time of its closure, the company maintained 38 stores[1] and one outlet store. The flagship store at the Lord & Taylor Building on Fifth Avenue in New York City operated from 1914 until 2019.[2]

The chain became a subsidiary of Le Tote, an online clothing rental company, in 2019. It went into liquidation in 2020[3] and Lord & Taylor's stores were closed.[1] Saadia Group purchased its assets and revived the brand in 2021 as an online store.[4][5]

Early history[edit]

19th century[edit]

English-born Samuel Lord started a dry goods business in New York in 1824 and opened the original store that would become Lord & Taylor in 1826, on Catherine Street in what is now Two Bridges, Manhattan. The shop stocked hosiery, misses' wear, and cashmere shawls.[6] His wife's cousin, George Washington Taylor, joined in 1834, and the store was named Lord & Taylor.[7] The store continued to grow: it annexed 49 Catherine Street in 1832 and moved six years later to 61–63 Catherine Street.[8][9] James S. Taylor, Lord's brother-in-law, replaced George Taylor in 1845.[7] The company erected a new building at Grand and Chrystie Streets in 1853 and moved into that location the next year.[7][9] Lord later named his son John T. Lord and his employee John S. Lyle as partners in the enterprise.[9]

On August 29, 1859, Lord & Taylor opened a second store on Broadway at Grand Street in the modern-day SoHo neighborhood, keeping the older store open.[6][7] The new store was described as a "five-story marble emporium" and was among Broadway's first major new department stores since the A.T. Stewart building at 280 Broadway was completed in 1846. At the same time, Lord & Taylor started participating in wholesaling.[9] Lord retired in 1862.[6] Samuel Lord Jr. and George Washington Taylor Lord succeeded the original partners in leading the company.[9]

In 1870, the Broadway store moved uptown to a new cast-iron building at Broadway and 20th Street, in the area known as the "Ladies' Mile".[6] This store was designed by James H. Giles and included one of the first steam-powered passenger elevators.[9] The new store expanded around 1890 by annexing a building to the east.[10] Lord & Taylor faced economic troubles after the Panic of 1873, though the original partners gave the company "a large loan" in 1879. By 1894 the company was fast growing, and would open stores on Fifth Avenue in 1903 and 1906.[9] The downtown store continued to function, expanded through to Forsyth Street, and advertised until at least 1887 as a new building. Samuel Lord's estate sold the Grand Street store in 1901.[11][12][13][14][15][16][17][18]

20th century[edit]

The Lord & Taylor Building, the Starrett & van Vleck-designed Fifth Avenue store and headquarters opened between 38th and 39th streets on February 24, 1914.[19][20] It touted many modern improvements, including an electric delivery vehicle garage; elevator and hidden conveyor systems for moving goods, people, showcases, and trash, and for loading and unloading trucks; and an on-site electrical generation and heating system. The Broadway store was quickly sold after the new store opened, on March 26.[21] The new store became a New York City Landmark on October 30, 2007.[9]

Lord & Taylor announced in November 1915 that it would sell off its wholesale business.[22]

A founding unit of Associated Dry Goods, Lord & Taylor was considered to be its "crown jewel". When the May Company acquired ADG in 1986, it was assumed that May bought it just for the luxury division.[23][24]

In 1945, Dorothy Shaver became the first woman to head a major retail establishment in the United States as president of Lord & Taylor.[25] As vice president working with the well-known design firm of Raymond Loewy Associates, she opened what is credited as the first ever branch store, in Manhasset, New York. Unlike earlier forays into the suburbs that consisted of smaller boutique-style shops, this was a merchandising effort that became the model for modern suburban shopping. The store consisted of 66 individual shops. Lord & Taylor's relationship with Raymond Loewy Associates continued until 1969, following the construction of the Stamford, Connecticut, store (designed by Loewy Vice President Andrew Geller).[26] Many of Lord & Taylor's special services, including personal shoppers, were introduced while Shaver presided.[27] During this period she introduced the Andrew Geller hand written logo and the American Beauty Rose as icons of the store. Shaver died in 1959.[25][28][29]

William J. Lippincott was elected chairman and chief executive in 1972. His obituary in The New York Times read: "In his years as president and chairman, Lord & Taylor moved beyond its traditional territory in the northeast to open stores in Atlanta, Houston and Dallas and four stores in Illinois."[30][31] A management shakeup ousted him in 1976.[32]

Under the leadership of CEO Joseph E. Brooks during the 1970s, the company aggressively expanded into Texas, Illinois and Michigan; in the early 1980s, South Florida saw 11 stores opened in quick succession.[citation needed]

Ownership by May[edit]

The chain partially withdrew from the oil-shocked Texas and southern Florida markets in 1989–1990 after its 1986 acquisition by May.[33] Under May, the majority of the upscale Hahne & Co., Wanamaker's, and Woodward & Lothrop chains were converted to Lord & Taylor.[34][35][36]

Jane T. Elfers became Lord & Taylor's second female president in June 2000.[37] Former Neiman Marcus executive, Brendan Hoffman replaced her in October 2008, when Elfer's contract had expired.[38] A third female president, Bonnie Brooks, took over in 2011, and a fourth female president, Liz Rodbell, took over in 2013.[39][40]

Federated–May merger[edit]

Federated Department Stores, now Macy's Inc, acquired May Department Stores on August 30, 2005. On January 12, 2006, Federated chairman, president, and CEO Terry Lundgren announced that Lord & Taylor would be sold by the end of the year.[41] In a move that took advantage of valuable real estate, Federated announced on March 10, 2006, that seven conflicting Lord & Taylor locations would either close or downscale into Macy's.[42] The legendary Center City, Philadelphia store, former flagship of the John Wanamaker chain, opened after a one-month renovation as Macy's City Center on August 1, 2006. On June 22, 2006, NRDC Equity Partners, LLC announced it would purchase Lord & Taylor for $1.2 billion after Federated converted and closed the seven locations that it previously announced were closing; the sale completed in October 2006.[43] Federated continued to service Lord & Taylor consumer credit accounts in an agreement with NRDC under the terms of its sale until mid-2007.[citation needed]

Ownership by Hudson's Bay Company[edit]

Mall entrances of the former Lord & Taylor store at the Quaker Bridge Mall in Lawrence Township, New Jersey (2013) This Location Closed on Saturday, February 27th, 2021.

On July 16, 2008, NRDC Equity Partners announced that it had purchased the 338-year-old Hudson's Bay Company (HBC) for an undisclosed price, with the intention of expanding internationally, and positioned Lord & Taylor under HBC. The combined HBC, as of February 2018, consisted of Hudson's Bay and Home Outfitters in Canada, Galeria Kaufhof in Germany, and Lord & Taylor and Saks Fifth Avenue in the United States.[44][45]

In 2009, HBC announced that they will close the Lord & Taylor location at the (former) Landmark Mall located in Alexandria, Virginia. The store only lasted nine years.[46]

HBC committed to spend an additional $250 million upgrading stores. The Fifth Avenue flagship store received a $150 million update in 2010.[47] In March 2017, Lord & Taylor partnered with Brideside to launch an in-store bridal shop.[48] In April 2017, Lord & Taylor completed a $12 million renovation plan at the Fifth Avenue store,[49] however in October 2017 they announced that they were selling the building to WeWork for $850 million.[50] In February 2019 the sale completed for $725 million in cash and the remainder in equity, forming a joint venture with Lord & Taylor was minority owners.[51]

On December 6, 2017, HBC announced that they will close two L&T locations at Westfield Old Orchard in Skokie, Illinois, and Westfield Annapolis in Annapolis, Maryland. A total of 260 employees were laid off, at both locations, and have since closed in April 2018.[52][53][54][55][56][57]

On April 1, 2018, the Hudson Bay Company gave notice of a theft of customers credit and debit cards due to a hacking incident. A hacking group, known as JokerStash or Fin7, was attempting to sell the information from five million stolen customer credentials on dark web sites during the last week of March 2018. The company noted that the majority of the compromised records appeared to be from Lord & Taylor and Saks Fifth Avenue customers. The Hudson Bay Company noted that customers would not be liable for any charges incurred due to his breach and they will offer no cost credit report monitoring and identity protection services.[58]

In May 2018, Walmart began carrying Lord & Taylor products on their website.[59] A few weeks later, HBC announced they would be closing up to ten Lord & Taylor stores, including the 5th Avenue location, amid declining store sales.[60] The New York flagship store closed on January 2, 2019.[61]

Industry observers connected the closures and the sale of the flagship store to intense competition from online retailers and high debt at HBC.[62] Lord & Taylor announced additional closings in Oakbrook Center, Monmouth Mall, Gaithersburg, and Sterling Heights.[63]

Operations under Le Tote[edit]

Exterior of the Lord & Taylor store at Woodbridge Center in Woodbridge Township, New Jersey (2019)

In May 2019, HBC announced it was seeking strategic alternatives for the Lord & Taylor business.[64] In August 2019, the company found a buyer for the chain, Le Tote, Inc. for C$99.5 million ($75 million) in cash on closing and an additional C$33.2 million ($25 million) two years later. HBC was to get a 25% equity stake in Le Tote.[65][66] The buyer would retain the stores' inventory, with an estimated value of C$284.2 million. The deal, expected to close before year end, required HBC to pay the stores' rent for at least three years, at an estimated C$77 million ($58 million) cash per year.[67][68][69] The acquisition was completed in November 2019.[70]

During the fall of 2019, full-line store closings were announced in Nyack, NY, Woodbridge, NJ, Moorestown, NJ, Dulles, VA, and McLean, VA; and a FIND @ Lord & Taylor outlet was closed in Paramus, NJ. In November, 2019, the sale to Le Tote was finalized and it was reported that all 38 remaining Lord & Taylor stores would be kept open.[71] Previously, five of the 38 stores were to be closed, according to the purchase agreement from HBC.[72]

A Lord & Taylor store at the Prudential Center in Boston after announcement of Chapter 11 bankruptcy. This location Closed on December 29th, 2020

Before the COVID-19 pandemic hit the United States in February 2020, Lord & Taylor began laying off many workers at stores across all store in the Northeast and the Mid-West, as Le Tote was beginning to struggle with the fact that they had taken on someone else's problem, and their plan to reinvest in these stores was headed in the wrong direction.[citation needed]

Impact of the COVID-19 pandemic[edit]

Lord & Taylor's stores were forced to close due to executive state orders by the local and state governments on non-essential retail by Wednesday, March 18, 2020, due to COVID-19 pandemic in the United States. While it took a while for the store to reopen to the public some of its closed U.S. stores were looted following the murder of George Floyd.[73][74][75]

On May 5, 2020, it was reported that Lord & Taylor was planning to liquidate all stores when they could reopen,[3] but in June, the company said that it intended to reopen all of its locations.[76]

Lord & Taylor began the process of reopening on Friday, May 15, 2020, when it opened two of its locations in Florida and New Hampshire.[77] Additional stores were gradually reopened with all stores resuming operations by July 3, 2020.[citation needed]

Bankruptcy and acquisition[edit]

Exactly one month after Lord & Taylor had reopens all of its stores, on August 2, 2020, it was reported that several Lord & Taylor stores had started liquidation sales.[78] Later that day, it was reported that Lord & Taylor, along with parent company Le Tote, had filed for Chapter 11 bankruptcy protection due to the COVID-19 pandemic in the United States.[79]

On August 3, it was reported that the company would simultaneously solicit bids for a going concern sale of both its Le Tote and Lord & Taylor businesses, and conduct targeted store closing sales at 19 locations to maximize the value of its business. It was intended that both Le Tote and Lord & Taylor would continue to operate during the Chapter 11 process.[80] They announced five more store closings on August 20, 2020.[81]

On Thursday, August 27, 2020, the company announced that it was reversing its initial decision, and would close all stores.[82] On Monday, October 19, 2020, Saadia Group, LLC announced it would acquire Lord & Taylor for $12 million and would continue to operate the business as an online-only business.[83] The transaction was approved the following day.[84]

Phased closures[edit]

On Monday, November 30, 2020, Le Tote announced that Lord & Taylor stores would start a phased closure on December 29, 2020, due to having favorable inventory levels throughout the holiday season.[citation needed] On Tuesday, December 29th, 2020, 18 out of 38 stores had permanently closed and about a month later, the freestanding store in Pennsylvania had closed. Finally, on Saturday, February 27th, 2021, the remaining 19 stores closed for the final time; these stores would have closed on Sunday, but due to the Bergen County Blue Laws that occur on Sunday for the Westfield Garden State Plaza and Fashion Center locations both located in Paramus, New Jersey, it was decided to close all of the stores on Saturday.[85][failed verification][original research?]


Phase I closures: December 29, 2020[edit]

Bala Cynwyd closure: January 16, 2021[edit]

Before the phase II Lord & Taylor store closures, the Lord & Taylor store closed at the Bala Cynwyd Shopping Center in Bala Cynwyd, Pennsylvania on Saturday, January 16, 2021.[citation needed]

Phase II closures: February 27, 2021[edit]

Eastchester, NY was considered the flagship location, second only to the store in New York City. Permanently closed on Saturday, February 27th, 2021. Parking lot is deserted after 73 years of operation, having opened in 1948.

Online revival & Operations under Saadia Group, LLC[edit]

In 2020, the investment firm Saadia Group purchased Lord & Taylor's assets for $12 million[4] and opened an online-only store in April 2021.[5]

Logos[edit]

Gallery[edit]

References[edit]

  1. ^ a b c Business, Jordan Valinsky, CNN. "Lord & Taylor is closing all of its stores after 194 years in business". CNN. Retrieved May 2, 2021.
  2. ^ "Iconic but troubled Lord & Taylor sold to clothing rental subscription company Le Tote". CNN. August 28, 2019.
  3. ^ a b DiNapoli, Jessica (May 5, 2020). "Exclusive: Lord & Taylor to liquidate its stores as soon as they reopen - sources". Reuters. Retrieved May 19, 2020.
  4. ^ a b "Saadia Group Plans to Buy Lord & Taylor's Assets for $12 Million". news.bloomberglaw.com. Retrieved May 2, 2021.
  5. ^ a b Taylor, Lord &. "The Saadia Group Announces the Official Digital Launch of Lord & Taylor". www.prnewswire.com. Retrieved May 2, 2021.
  6. ^ a b c d Burrows, Edwin G. and Wallace, Mike (1999). Gotham: A History of New York City to 1898. New York: Oxford University Press. ISBN 0-195-11634-8.
  7. ^ a b c d "America's Successful Men of Affairs:An Encyclopedia of Contemporaneous Biography (Samuel Lord entry)". Ancestry.com. New York: Tribune. 1895. p. 403. Archived from the original on May 5, 2017. Retrieved May 5, 2017.
  8. ^ The History of Lord & Taylor, 1826–2001. New York: Guinn Company. 2001. pp. 5, 11, 13, 14, 16–17, 19, 21–23, 25, 34, 37, 39.
  9. ^ a b c d e f g h Percival, Marianne (October 30, 2007) Lord & Taylor Building Designation Report New York City Landmarks Preservation Commission. pp. 1–2.
  10. ^ "Attractive to Shoppers (Lord & Taylor)". The New York Times. October 15, 1891. p. 8. Retrieved May 5, 2017 – via Newspapers.com open access.
  11. ^ "Lord & Taylor (Advertisement)". New York Times. March 10, 1879. Retrieved May 5, 2017 – via Newspapers.com open access.
  12. ^ The Christian Union. New York: J.B. Ford & Company. April 17, 1878. p. 331 – via Google Books.
  13. ^ The Evening Post Record of Real Estate Sales in Greater New York. January 1, 1901.
  14. ^ "Dresses, Furs, and Bonnets (Lord & Taylor)". The New York Times. October 8, 1880. p. 8. Retrieved May 5, 2017 – via Newspapers.com open access.
  15. ^ "Our New Building – Lord & Taylor". The New York Times. December 5, 1887. p. 8. Retrieved May 5, 2017 – via Newspapers.com open access.
  16. ^ Morrone, Francis (December 27, 2007) "A Landmark Department Store" The New York Sun
  17. ^ "Dear Lord & Taylor, Retail's Resting Place". Observer. September 11, 2006. Retrieved May 23, 2018.
  18. ^ "Vintage Fashion Guild : Label Resource : Lord & Taylor". vintagefashionguild.org. Retrieved May 23, 2018.
  19. ^ "Fifth Avenue's Wonderful Evolution As Shopping Center". The New York Times. February 22, 1914. p. 71. Retrieved May 5, 2017 – via Newspapers.com open access.
  20. ^ "The New Store Opens Tuesday (Lord & Taylor)". The New York Times. February 22, 1914. p. 5. Retrieved May 5, 2017.
  21. ^ "Lord & Taylor's Old Corner Sold". The New York Times. March 27, 1914. p. 18. Retrieved May 5, 2017 – via Newspapers.com open access.
  22. ^ "LORD & TAYLOR QUIT WHOLESALE FIELD; Directors Authorize Sale of That Branch of Their Business, and J. H. Emery May Buy It. TO EXTEND RETAIL TRADE Final Assent Must Come from Stockholders, Who Are to Meet on Next Tuesday". The New York Times. November 27, 1915. ISSN 0362-4331. Retrieved October 11, 2019.
  23. ^ "Hilsberg to Run May Division". Los Angeles Times. October 16, 1986. ISSN 0458-3035. Retrieved May 23, 2018.
  24. ^ "Associated Merges With May". tribunedigital-chicagotribune. Retrieved May 23, 2018.
  25. ^ a b "Dorothy Shaver (1893–1959), The First Lady of Retailing" (PDF). National Museum of American History Archives Center. Retrieved May 6, 2017.
  26. ^ "Cooper Union Alumni Association | Alumni Profile: Andrew Geller, AR'49, and Shirley Geller, A'44". cooperalumni.org. Retrieved May 23, 2018.
  27. ^ Amerian, Stephanie (June 1, 2009). "Fifth Avenue's First Lady: Dorothy Shaver". CSW Update Newsletter.
  28. ^ "Miss Shaver Dead; Led Lord & Taylor; Dorothy Shaver Is Dead at 66; Headed Lord & Taylor Since' 45". The New York Times. June 29, 1959. ISSN 0362-4331. Retrieved May 23, 2018.
  29. ^ "RETAIL TRADE: Fifth Avenue's First Lady". Time. December 31, 1945. ISSN 0040-781X. Retrieved May 23, 2018.
  30. ^ "Metro Atlanta Lord & Taylor stores closing". www.bizjournals.com. Retrieved May 23, 2018.
  31. ^ "W. J. Lippincott, 73; Headed Lord & Taylor". The New York Times. May 7, 1992. p. B17. Retrieved January 2, 2018.
  32. ^ "New Lord & Taylor Team Plans Expansion". The New York Times. 1972. ISSN 0362-4331. Retrieved May 23, 2018.
  33. ^ "Mervyn's to acquire five Lord & Taylor stores in Florida". UPI. Retrieved May 23, 2018.
  34. ^ Pressler, Margaret Webb (August 29, 1995). "AT WOODIES, TAKING STOCK BEFORE A FINAL SALES BLITZ". The Washington Post. ISSN 0190-8286. Retrieved May 23, 2018.
  35. ^ "Hello, Lord & Taylor". www.bizjournals.com. Retrieved May 23, 2018.
  36. ^ Barmash, Isadore. "Lord & Taylor to Bolster Presence in New Jersey". Retrieved May 23, 2018.
  37. ^ Kaufman, Leslie (August 13, 2000). "PRIVATE SECTOR; Loosening Up at Lord & Taylor". The New York Times. ISSN 0362-4331. Retrieved May 23, 2018.
  38. ^ Kapner, Suzanne (September 26, 2008). "Shakeup at Lord & Taylor". CNN. Archived from the original on December 11, 2008. Retrieved May 11, 2010.
  39. ^ "2017 Commencement Speaker: Liz Rodbell, President of Hudson's Bay and Lord & Taylor". Retrieved May 23, 2018.
  40. ^ "Bonnie Brooks adds top job at Lord & Taylor". Financial Post. January 23, 2012. Retrieved May 23, 2018.
  41. ^ Edelson, David Moin, Sharon (January 13, 2006). "Retail's Changing World: Federated Opts to Put Lord & Taylor on Block". WWD. Retrieved May 23, 2018.
  42. ^ Tritto, Christopher (March 10, 2006). "Lord & Taylor closing at Galleria, West County malls". St. Louis Business Journal. Retrieved January 2, 2018.
  43. ^ "Federated Agrees to Sell Lord & Taylor to NRDC Equity Partners; Transaction Expected to Close in Third Quarter of 2006" (Press release). Federated Department Stores, Inc. June 22, 2006.
  44. ^ "Hudson's Bay Company Completes Acquisition of GALERIA Holding". Retrieved May 23, 2018.
  45. ^ "NRDC Equity Partners announces the acquisition of Hudson's Bay Company". www.newswire.ca. Retrieved May 23, 2018.
  46. ^ www.bizjournals.com https://www.bizjournals.com/washington/stories/2009/05/25/daily88.html. Retrieved November 4, 2020. Missing or empty |title= (help)
  47. ^ "Retail Renewal: More Renovations In Store For Lord & Taylor On Fifth Avenue". The Shophound. March 27, 2013. Retrieved May 6, 2017.
  48. ^ McClay, Rebecca (March 21, 2017). "Lord & Taylor Launches In-Store Bridal Shop". Investopedia. Retrieved October 18, 2017.
  49. ^ Noto, Anthony (April 3, 2017). "Lord & Taylor may turn its 103-year-old landmark store into a steel-and-glass skyscraper". New York Business Journal. Retrieved January 2, 2018.
  50. ^ "Lord & Taylor sells landmark Fifth Avenue store". October 24, 2017. Retrieved May 23, 2018.
  51. ^ "HBC Closes Sale of the Lord & Taylor Fifth Avenue Building". www.businesswire.com. February 11, 2019. Retrieved February 13, 2019.
  52. ^ www.bizjournals.com https://www.bizjournals.com/baltimore/news/2017/11/16/lord-taylor-closing-annapolis-store.html. Retrieved February 10, 2021. Missing or empty |title= (help)
  53. ^ "Lord & Taylor closing its Old Orchard store in April". Crain's Chicago Business. December 6, 2017. Retrieved November 4, 2020.
  54. ^ "Lord & Taylor Closing Old Orchard Store Permanently". Skokie, IL Patch. December 7, 2017. Retrieved November 4, 2020.
  55. ^ staff, Chicago Tribune. "Lord & Taylor to close Old Orchard mall store, lay off 119". chicagotribune.com. Retrieved November 4, 2020.
  56. ^ "Old Orchard's Lord & Taylor To Close". DailyNorthShore. Retrieved November 4, 2020.
  57. ^ Mikus, Kim (December 7, 2017). "Lord and Taylor to close at Old Orchard mall". Daily Herald. Retrieved November 4, 2020.
  58. ^ O'Brien, Matt (April 1, 2018). "Data breach hits Saks Fifth Avenue, Lord & Taylor stores". The Boston Globe. Associated Press. Retrieved April 1, 2018.
  59. ^ "Wal-Mart strikes deal with Lord & Taylor, growing in fashion against Amazon". November 13, 2017. Retrieved May 23, 2018.
  60. ^ "Hudson's Bay to close up to 10 Lord & Taylor stores, including Fifth Avenue in New York". Retrieved June 5, 2018.
  61. ^ "Flagship Lord and Taylor store officially closes in Manhattan". Retrieved February 20, 2020.
  62. ^ "How Hudson's Bay Company looks to pay off its debt and revitalize its stores". Glossy. January 4, 2019. Retrieved January 5, 2019.
  63. ^ Levine-Weinberg, Adam (June 10, 2019). "Lord & Taylor Confirms 2 More Store Closures: More Will Follow -". The Motley Fool. Retrieved June 12, 2019.
  64. ^ Lucas, Amelia (May 6, 2019). "Hudson's Bay to review strategic alternatives for Lord & Taylor". www.cnbc.com. Retrieved May 6, 2019.
  65. ^ "Hudson's Bay to sell Lord + Taylor for $100 million". August 29, 2019 – via ca.reuters.com.
  66. ^ Maheshwari, Sapna (August 28, 2019). "Lord & Taylor Will Be Sold to Le Tote, a Clothing Rental Start-Up". The New York Times. ISSN 0362-4331. Retrieved September 3, 2019.
  67. ^ "HBC and Le Tote Enter Into Agreement for Acquisition of Lord + Taylor". www.businesswire.com. August 28, 2019.
  68. ^ "Not a 'clean exit': Hudson's Bay sells historic Lord & Taylor for $133 million | Financial Post". August 28, 2019.
  69. ^ Business, Chris Isidore and Nathaniel Meyersohn, CNN. "Iconic but troubled Lord & Taylor sold to clothing rental subscription company Le Tote". CNN. Retrieved September 3, 2019.
  70. ^ "Done Deal: Le Tote completes Lord & Taylor acquisition; names new president". Chain Store Age. Retrieved November 11, 2019.
  71. ^ Milnes, Hilary (November 8, 2019). "Inside Le Tote's $100 million bet to rebuild Lord & Taylor". www.voguebusiness.com. Retrieved January 6, 2020.
  72. ^ "Hudson's Bay selling Lord & Taylor for $100 million to Le Tote". Financial Post.
  73. ^ "Looters damage businesses in Friendship Heights Sunday night". June 1, 2020.
  74. ^ "A running list of the Boston businesses that have been vandalized, looted | Boston.com". www.boston.com.
  75. ^ Reporter (ABC7), Kevin Lewis, Montgomery County (May 31, 2020). "Looters steal gobs of Rx medicine from CVS in Friendship Heights, many others stores hit". WJLA.
  76. ^ Lisicky, Michael (June 20, 2020). "Lord & Taylor Leadership Looks Cautiously To The Future". Forbes. Retrieved July 15, 2020.
  77. ^ Lisicky, Michael (March 22, 2020). "There Is Still A Little Life Left In Lord & Taylor, Two Locations Reopen". Forbes. Retrieved March 2, 2021.
  78. ^ Lisicky, Michael (August 2, 2020). "Lord & Taylor Surprises Shoppers With 'Store Closing' Signs At Many Locations, Files For Bankruptcy". Forbes. Retrieved August 2, 2020.
  79. ^ Clark, Evan (August 2, 2020). "Le Tote, Lord & Taylor File Bankruptcy". Women's Wear Daily. Retrieved August 2, 2020.
  80. ^ Hilco Global (August 3, 2020). "Le Tote And Lord + Taylor To Continue Sale Process And Commence Store Closings At Certain Stores Through Voluntary Chapter 11 Filing". PR Newswire (Press release). Retrieved August 5, 2020.
  81. ^ Hilco Merchant Resources, LLC (August 20, 2020). "Le Tote and Lord + Taylor Provides Update on Restructuring Process". PR Newswire (Press release). Retrieved August 20, 2020.
  82. ^ Valinsky, Jordan (August 27, 2020). "Lord & Taylor is closing all of its stores after 194 years in business". CNN. Retrieved August 27, 2020.
  83. ^ "Lord & Taylor's final sale: Who will buy all that real estate?". Marketplace. August 28, 2020. Retrieved October 29, 2020.
  84. ^ "Lord & Taylor, Le Tote $12 Million Asset Sale to Saadia Approved". news.bloomberglaw.com. Retrieved October 29, 2020.
  85. ^ Lisicky, Michael. "Lord & Taylor Locks Its Doors For The Last Time, After 195 Years". Forbes.
  86. ^ https://www.forbes.com/sites/michaellisicky/2021/02/27/lord--taylor-locks-its-doors-for-the-last-time-after-195-years/?sh=1260b06a3836

External links[edit]

Coordinates: 40°45′05″N 73°58′59″W / 40.75149°N 73.98307°W / 40.75149; -73.98307