Lord & Taylor To Close All Locations, Including Freehold Store

Freehold NJ

27 August, 2020

11:21 AM

Description

FREEHOLD, NJ – Department store chain Lord & Taylor is set to close all of its brick-and-mortar locations, including its Freehold Raceway Mall site after its parent company filed for bankruptcy in August. The 194-year-old brand, as well as its parent company Le Tote Inc., filed for Chapter 11 bankruptcy on Aug. 2, according to a press release. On Thursday, the company announced that it will be closing its remaining 38 stores. Liquidation sales are slated to begin today at the Freehold location on Route 9, according to the store website. All purchases will be final, and coupons/reward cards will not be honored. The decision marks a reversal from last week's announcement to allow 14 locations to stay open, according to CNN Business. "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, Lord & Taylor's chief restructuring officer, in a statement. The Lord & Taylor Store Directory will continually be updated with store status and current hours of operation at www.locations.lordandtaylor.com. Besides Freehold, Lord & Taylor has the following New Jersey locations: Bridgewater CommonsGarden State PlazaThe Fashion CenterQuakerbridge MallWillowbrook MallRockaway TownsquareWestfieldLivingston Mall The company opened its first location in New York City in 1826, swiftly becoming a favorite in high-end fashion. Le Tote Inc. attempted to revive the brand after its acquisition in 2019 with trendy pop-up shops and a hi-tech revamp of remaining stores. Lord & Taylor joins a growing list of retailers to file for bankruptcy amid the coronavirus pandemic, including Brooks Brothers, J.Crew, J.C. Penney, Lucky Brand, Neiman Marcus and Sur La Table. The brand is also the latest major company to drop out of the store lineup at the Freehold Raceway Mall. In May, Nordstrom announced its departure from the location. Related: Nordstrom At Freehold Raceway Mall To Close PermanentlyRelated: Howell Justice Store Closing After Company Bankruptcy: Report Have a news tip? Email [email protected]. Click here to get Patch email notifications, or get breaking news alerts sent right to your phone with our app, download here. Follow Freehold Patch on Facebook.