Lord & Taylor files for bankruptcy, seeking new owner

The latest retailer to falter from the ongoing COVID-19 pandemic is Lord & Taylor, one of the oldest U.S. department stores.

The news comes on the heels of other longtime retailers, including Men's Wearhouse and JCPenney, filing for chapter 11 given months of store closures due to the coronavirus.

The company, which is owned by French rental clothing firm Le Tote Inc., is looking for a new owners, according to a NBC report.