Lord & Taylor Store Closing At King Of Prussia Mall

KING OF PRUSSIA, PA — Lord & Taylor, the oldest U.S. department store chain, will close its King of Prussia Mall location after filing for bankruptcy earlier this month.

The closures will impact all of the stores around the nation. Specific dates for individual store closures were not immediately available.

Business Insider reports that in addition to closing stores after the bankruptcy filing, liquidation sales have begun at 19 of 38 locations.

These sales include 20 to 40 percent savings on the lowest ticketed prices on merchandise. Store fixtures are also being sold, the company said.

The chain's parent company, Le Tote, Inc., announced the Chapter 11 filing on Aug. 2, and has already begun the closing process at 19 stores. An additional five store closures were announced Thursday, bring the total closing number to 24, the company said in a news release.

Lord & Taylor is one of the oldest department stores in America: it was founded nearly 200 years ago in 1826. The company, which had seen falling sales in recent years, was purchased by Le Tote in 2019. But the closures caused by the coronavirus were the final nail in the company's coffin.

It is just the latest retail chain to file for bankruptcy amid the coronavirus pandemic, joining the likes of J. Crew, Neiman Marcus, Men's Warehouse and Ascena, the owner of Ann Taylor.