Lord & Taylor, a New York landmark retailer, has filed for bankruptcy, joining a growing list of retailers flummoxed by the pandemic. The company, which was bought last year by the French rental clothing company Le Tote Inc., filed for bankruptcy protection in Eastern Court of Virginia, on Sunday (2nd August).
An announcement was made on the website of the company, one of the oldest American department stores, that it is looking for a new owner. Lord & Taylor was struggling with the shift to online shopping even before the pandemic struck this spring.
The company sold its flagship building on New York’s Fifth Avenue last year after more than a century in the 11-storey building. The company was founded in 1826 as a dry goods store. There are several dozen Lord & Taylor stores across America.
Supreme Court Transfers Pleas Challenging IBC Provisions on Personal Insolvency to Itself
Judiciary
Oct 30, 2020
Richa Shah
(
Editor: Ekta Joshi
)
5 Shares
On Thursday (29th October 2020), the Supreme Court transferred all petitions, pending in the various high court of the country, challenging provisions of personal insolvency under the Insolvency and Bankruptcy Code (IBC) to itself. No more writ petitions on this issue will be entertained by the High courts as per the directions of the Supreme Court.This order was passed by a bench of three judges: Justice L Nageswara, Justices Hemant Gupta, and Justice Ajay Rastogi. They added that all...
Supreme Court Reserves Order on IBBI's Plea Seeking Transfer of HC Cases Challenging Personal Guarantors' Insolvency
Judiciary
Oct 30, 2020
Jishu
(
Editor: Ekta Joshi
)
5 Shares
The Supreme court on Thursday (October 29,2020) transferred all petitions, pending in various high courts of the country, challenging provisions of personal insolvency under the Insolvency and Bankruptcy Code (IBC) to itself. High courts have been directed not to entertain any more writ petitions on this issue.The order was passed by an apex court bench headed by Justice L Nageswara. The three-judge bench, also comprising Justices Hemant Gupta and Ajay Rastogi, added that all interim directions...
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