Lord & Taylor files for bankruptcy protection

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GARDEN CITY, NEW YORK – MAY 12: A pedestrian walks past a shuttered Lord and Taylor department store following their filing for bankruptcy amid the COVID-19 pandemic on May 12, 2020 in Garden City, New York. (Photo by Bruce Bennett/Getty Images)

Becoming the latest of many retailers to declare bankruptcy during the coronavirus pandemic, department store Lord & Taylor has filed for Chapter 11.

The company filed for Chapter 11 bankruptcy protection Sunday, according to court documents.

The bankruptcy comes almost a year after fashion rental subscription service Le Tote, Inc. bought the company for $75 million. Before that, Hudson’s Bay Company acquired Lord & Taylor in 2012.

Lord & Taylor opened its first store in New York in 1826, making it the nation’s first department store. It was once a mainstay of high-end fashion.

The company could not be reached for comment Sunday evening.

– CNN Business’ Chris Isidore and Nathaniel Meyersohn contributed to this report

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