Lord & Taylor Is Going Out Of Business

BOSTON (CBS) -- Lord & Taylor is closing its remaining 38 stores. The store filed for bankruptcy on August 2, one of many retailers to do so during the coronavirus pandemic.

Going out of business sales have begun online and in stores. The department store has been part of the Burlington Mall, Natick Mall, South Shore Plaza, Prudential Center, and Rockingham Mall in New Hampshire.

The store was sold to fashion rental subscription service Le Tote, Inc. for $100 million about a year ago. Before that, Hudson's Bay Company acquired Lord & Taylor in 2012.

Lord & Taylor became the nation's first department store when it was established in 1826.