High-rise commercial buildings

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + Retail  | 

Lord & Taylor Will Liquidate All Locations

Lord & Taylor, America’s oldest department store, commenced liquidation sales at its 38 remaining locations and on its website. A joint venture of Hilco Merchants Resources and Gordon Brothers is running the sales.

The 194-year-old company, owned by Le Tote, Inc., filed for Chapter 11 protection on August 2 and announced its pursuit of a going-concern buyer. 

“While we are still entertaining various opportunities, we believe it is prudent to simultaneously put the remainder of the stores into liquidation to maximize value of inventory for the estate while pursuing options for the company’s brands,” said Ed Kremer, the company’s chief restructuring officer.

The final liquidation announcement comes a week after Lord & Taylor added five more locations to the 19 it slated for closure when it filed for bankruptcy. It also follows Amazon’s announcement that it had acquired the former Lord & Taylor building on Fifth Avenue in Midtown Manhattan.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Bankruptcy AttorneysConnect With Hilco Merchants ResourcesConnect With Gordon Brothers

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

New call-to-action
New call-to-action