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Lord & Taylor, Oldest U.S. Department Store, Files For Bankruptcy

The retailer was acquired in 2019 by online clothing-rental startup called Le Tote. It joins a cascade of bankruptcies by major apparel stores, triggered by the doldrums of the coronavirus pandemic.

Copyright 2020 NPR

Alina Selyukh is a business correspondent at NPR, where she follows the path of the retail and tech industries, tracking how America's biggest companies are influencing the way we spend our time, money, and energy.