News Flash: Lord & Taylor files for bankruptcy, becoming the latest retail casualty of the coronavirus pandemic

Lord & Taylor in New York.

Richard Levine | Corbis | Getty Images

Lord & Taylor estimated both assets and liabilities in the range of $100 million to $500 million, its filing in the U.S. Bankruptcy Court for the Eastern District of Virginia showed. 

Big names that already filed for Chapter 11 include J Crew Group, JC Penney and Neiman Marcus in May, while Lucky Brand became a casualty of the pandemic in July. 

Source: CNBC

Another big retail bites the dust in US while Amazon is breaking all time highs. This is a sign of the changing economy and if companies do not evolve, it is likely that they will be out of the game soon enough. 

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