Lord & Taylor Bankruptcy: All 38 Stores Remain Closed, Half To Start Liquidation

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(CBS DETROIT) - Lord & Taylor is the latest big-name retailer to go bankrupt from the pandemic.

The luxury chain filed for Chapter 11 protections in Virginia Sunday.

The company has been around since 1826 and calls itself the oldest department store in the U.S.

All 38 of its locations, including one in Auburn Hills and another in Novi have been closed since March.

According to Forbes, more than half of its locations are immediately starting liquidation sales.