Lord & Taylor is exploring filing for bankruptcy protection after it was forced to temporarily shut all of its 38 U.S. department stores in the ...
REUTERS: Lord & Taylor is exploring filing for bankruptcy protection after it was forced to temporarily shut all of its 38 U.S. department stores in the wake of the coronavirus outbreak, people familiar with the matter said on Monday.
The sources requested anonymity because the deliberations are confidential. Lord & Taylor did not immediately respond to a request for comment. A Le Tote spokeswoman said Lord & Taylor is working through various options and declined to comment further. A representative for Hudson's Bay, based in Canada, declined to comment.
Lord & Taylor was famous for its holiday window display in its flagship on New York City's Fifth Avenue, but Hudson's Bay sold the building to co-working space operator WeWork in 2019.Le Tote also owes Hudson's Bay CUS$33.2 million stemming from a promissory note from the deal. As part of the deal last year, Hudson's Bay also secured an ownership stake in Le Tote and two seats on the company's board. Hudson's Bay representatives have since stepped down from the board, one of the sources said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taylor, Gilchrist predict big pay cuts for Australia playersSYDNEY: Former Australia captain Mark Taylor and wicket-keeping great Adam Gilchrist believe pay cuts are inevitable for the country's cricketers ...
Read more »
How to look for a job during the coronavirus pandemicSome tips on looking for a job during the coronavirus pandemic. YahooFinance
Read more »
Tennis: Nadal frustrated by coronavirus lockdownMADRID: Rafael Nadal has expressed his frustration that tennis players remain unable to practise due to the coronavirus pandemic while other ...
Read more »
Ascott houses healthcare staff in Singapore, China, France amid coronavirus pandemicCAPITALAND'S wholly-owned lodging business unit, The Ascott, is providing accommodation for healthcare workers, returning nationals, guests affected by border closures or city lockdowns, migrant workers and others around the world who have been stranded due to the coronavirus pandemic. Read more at The Business Times.
Read more »
Ascott houses healthcare staff in Singapore, China, France amid coronavirus pandemicSINGAPORE (THE BUSINESS TIMES) - CapitaLand'S wholly-owned lodging business unit, The Ascott, is providing accommodation for healthcare workers, returning nationals, guests affected by border closures or city lockdowns, migrant workers and others around the world who have been stranded due to the coronavirus pandemic.. Read more at straitstimes.com.
Read more »