Natick Mall Lord & Taylor Closing Postponed

Natick MA

04 January, 2021

1:15 PM

Description

NATICK, MA — The Natick Mall Lord & Taylor location is still closing, but it will happen a little later than expected. Lord & Taylor's parent company, Le Tote, initially notified state labor officials the Natick Mall location would close in early December. But in a Dec. 15 letter, the company notified town and state officials that it would postpone the closure until around Feb. 15. The company sees an opportunity to keep the store open due to a better-than-expected holiday shopping season, the letter said. "The reason for the postponement of separations is that business conditions, including favorable inventory levels not envisioned at the time of the original notice, have enabled the Company to extend store operations for a period beyond the holiday season, benefiting both our teams and communities with this employment extension," Le Tote Chief Restructuring Officer Ed Kremer wrote in the letter. Of the four Lord & Taylor stores in Massachusetts — the others are in Burlington, Boston and Braintree — Le Tote has only pushed off the closing date of the Natick store. The others were set to close in December. About 27 people will lose their jobs when the Natick store does finally close, according to state records. Le Tote announced the closure of the oldest chain of department stores in August. The company cited increasing competition from online retailers as well as the "devastating impact" if the coronavirus for its decision.