Updated at 4:50 p.m.
WESTFIELD, NJ — Lord & Taylor, the department store on North Avenue in Downtown Westfield, is holding a closing sale, according to its website.
The news comes after online fashion brand Le Tote — which purchased the chain of Lord & Taylor stores in 2019 — filed for bankruptcy in federal court on Aug. 2. Soon after, Westfield’s municipal government declared the property on which Lord & Taylor sits a non-condemnation area in need of redevelopment.
“We are having a store closing sale. Continue to shop lordandtaylor.com,” the company’s website says. “Effective 8/26/20 this location is no longer accepting returns or exchanges from other Lord + Taylor locations.”
The Westfield location is not alone. Lord & Taylor is liquidating all of its remaining stores, according to a story on CNN.com.
“While we all knew this day was coming, it’s still sad nonetheless,” said Bob Zuckerman, executive director of the Downtown Westfield Corporation. “Lord & Taylor is the oldest department store in America and has been a major anchor for Downtown Westfield for many years. Unfortunately, their new parent company could not withstand the pressures of today’s retail marketplace, and it's clear that COVID just accelerated their demise.
“Fortunately for us, Hudson’s Bay, the owner of the Lord & Taylor property in Westfield, is eagerly anticipating redeveloping the site as a mixed-use property that will benefit both our downtown and all the residents of Westfield,” Zuckerman continued. “The DWC is looking forward to working with Hudson’s Bay and the administration to re-imagine the space into new uses that we can all be proud of.”
The town has had an active dialogue with Hudson's Bay Company over the last two years in anticipation of this scenario as the retail landscape was shifting well before the pandemic, Mayor Shelley Brindle said earlier this month.
“Considering they are one of our largest taxpayers, we have a very vested interest in working with them to ensure that we maintain and ideally maximize the potential tax revenue from their site,” Brindle said.
TAPinto Westfield has reached out to Lord & Taylor for comment.
Read More NJ Local News
Are you a business interested in reaching our audience? Contact Jackie Lieberman at email@example.com.