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Le Tote

Business
4 Connecticut Lord & Taylors To Close; 150 People Face Layoffs 4 Connecticut Lord & Taylors To Close; 150 People Face Layoffs
4 Connecticut Lord & Taylors To Close; 150 People Face Layoffs Le Tote the company that purchased retailer Lord & Taylor has announced the closing of four Connecticut stores.* Le Tote is Lord & Taylor's parent company. About 150 Le Tote employees will lose their jobs when four Connecticut Lord & Taylors close, according to four WARN notices the company filed with the state’s Department of Labor. Under the U.S. Working Adjustment and Retraining Notification Act (WARN), most companies with 100 or more employees must alert the state when they are planning to close or impose mass layoffs.  Layoffs will begin on Dec. 1 and be cond…

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by Kristin Palpini
Business
Lord & Taylor Closing All Its Stores After Nearly 200 Years In Business Lord & Taylor Closing All Its Stores After Nearly 200 Years In Business
Lord & Taylor Closing All Its Stores After Nearly 200 Years In Business Lord & Taylor, the first department store to be established in the United States, is going out of business, closing all its stores after a 194-year run. Reversing a decision announced last week to keep 14 stores open, the company announced on Thursday, Aug. 27 that all of its 38 remaining stores and website have begun liquidation sales.  Parent company Le Tote had filed for bankruptcy Sunday, Aug. 2. "While we are still entertaining various opportunities, we believe it is prudent to simultaneously put the remainder of the stores into liquidation to maximize value of inv…

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by Joe Lombardi