Lord & Taylor files for bankruptcy prompting closing store sales at Boca location

Lord & Taylor, located in Boca Raton’s Mizner Park, now joins the list of businesses that have filed for bankruptcy since the start of the COVID-19 pandemic with the help of a bankruptcy attorney.

The store’s owner, Le Tote Inc., bought Lord & Taylor for $100 million in 2019 has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of Virginia.

Lord & Taylor is currently searching for a buyer, and two dozen stores have filed for bankruptcy since the pandemic began with the help of a bankruptcy law firm or a chapter 13 bankruptcy attorney in their area.

“Today, we announced our search for a new owner who believes in our legacy and values,” the company statement reads according to the Sun Sentinel. “Part of our announcement also includes filing for Chapter 11 protection to overcome the unprecedented strain the COVID-19 pandemic has placed on our business.”

The store’s website states returns will not be accepted at the store and online returns will be discontinued on Aug. 14.

The Boca Raton location was the only Lord & Taylor store in the state of Florida, from 38 nationwide. 19 of these 38 stores began closing on Sunday, according to Forbes.