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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 inventory for the estate while pursuing options for the company's brands," the company said in a statement.
English-born Samuel Lord and his wife's cousin, George Washington Taylor, opened the first store in lower Manhattan in 1826.
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