Lord & Taylor is reportedly preparing to liquidate its stores as soon as they reopen, according to a report from Reuters.
People familiar with the matter told Reuters that Lord & Taylor has selected liquidators to operate going-out-of-business sales and is preparing to permanently close its stores following those sales. Additional financing or some other intervention could enable the company to avoid liquidation, sources added.
The department store chain has closed all 38 of its stores due to coronavirus restrictions.
Photo courtesy Lord & Taylor
