This iconic department store announced on Aug. 27 that they would be going out of business and had filed for Chapter 11 bankruptcy. Lord & Taylor’s financial hardships predated COVID: the chain was sold to Le Tote in 2019 in an attempt to breathe new life into the brand. However, it was not enough to keep the company alive once COVID hit. And for more businesses at risk, check out One-Third of These Popular Destinations Won’t Survive the COVID Pandemic. In May, the classic department store Nordstrom announced they would be closing 19 of their 116 stores, per Business Insider. The department store chain plans to keep all 250 of their Nordstrom Rack stores in operation.ae0fcc31ae342fd3a1346ebb1f342fcb On Sept. 10, this New York-based department store filed for bankruptcy and the company revealed all 13 locations would be closing. Century 21 co-CEO Raymond Gindi noted that the business had survived other hardships, including the devastating impact of 9/11. But he says now, due to COVID, Century 21 has “no viable alternative but to begin the closure of our beloved family business.” And to see which seasonal store may not be coming to your town this year, check out The Most Popular Halloween Store Won’t Reopen 90 Percent of Its Locations. Neiman Marcus filed for Chapter 11 bankruptcy in early May, according to NPR. However, you may still see this shop in your local mall. The department store chain is only saying goodbye to 22 of its 43 stores, for now, says Business Insider. On May 15, J.C. Penney released a statement saying they filed for bankruptcy, and stores would begin to close in phases. According to USA Today, two days later, the company announced that 192 stores would be closing by February 2020, with 50 more planned to shut their doors in the following fiscal year. J.C. Penney’s 604 highest performing locations will remain. The 112-year-old company announced that they would be shutting all their stores on Aug. 13. The popular discount store with 280 locations across 30 states filed for Chapter 11 bankruptcy due to “the combined effects of a challenging retail environment coupled with the impact of the coronavirus,” Stein Mart CEO Hunt Hawkins said in a statement. And if you’re shopping from home more these days, check out The Best Way to Save Money While Shopping Online, According to Experts. On July 8, this home goods superstore released a statement that they would be closing 200 stores over the next two years. Recently, on Sept. 21, they announced which 63 stores would be the first to go. Your favorite spot for curated home goods filed for bankruptcy in mid-May. The stores are currently winding down and preparing to close with a going-out-of-business sale. And for another place to get home goods, check out 20 Gorgeous Pieces from Drew Barrymore’s Walmart Home Collection. The parent company of Kay, Zales, and Jared announced, on June 9, that at least 150 U.S. stores would not reopen after closing during the COVID pandemic. Additionally, the company said they aim to close a minimum of 150 additional stores by the end of the fiscal year. On Sept. 14, this high-end kitchen supply store announced that about half of its locations would be getting cut. The company filed for Chapter 11 bankruptcy in early September and announced they would be closing 56 of their 121 stores, USA Today reports. Later, Sur La Table revealed 17 more stores were closing, which leaves only 55 locations standing. And for more useful content delivered straight to your inbox, sign up for our daily newsletter.
