Le Tote and Lord + Taylor to Continue Sale Process and Commence Store Closings at Certain Stores Through Voluntary Chapter 11 Filing

On August 2, 2020, Le Tote, Inc. and certain of its subsidiaries including Lord & Taylor LLC (together, the “Company”) filed for Chapter 11 reorganization in the United States Bankruptcy Court for the Eastern District of Virginia.  The Company will simultaneously solicit bids for a going concern sale of both its Le Tote and Lord + Taylor businesses, and conduct targeted store closing sales to maximize the value of its business.

The Company filed to facilitate and continue a marketing process for both of its business units that began this summer and to efficiently monetize any assets not sold as part of the marketing process.  Both Le Tote and Lord + Taylor will continue to operate during the chapter 11 process and offer the same superior service and value.

To help fund and protect its operations during the chapter 11 process, the Company has obtained consent to use cash collateral from its prepetition secured lenders.  The Company has also filed a number of customary motions seeking court authorization to support its operations during chapter 11, including the continued payment of employee wages and benefits and the authority to conduct store closing sales led by a joint venture of Hilco Merchant Resources and Gordon Brothers.  The store closing process has begun at 19 locations, which are shown below.  The 19 closing stores feature an abundant assortment of merchandise at significant price reductions. Celebrated brands like DKNY™, Nike™, Ralph Lauren™, Tommy Bahama™ and more are part of the sale.

A full list of closing locations is below. The Lord + Taylor Store Directory is continually updated with store status and current hours of operation.  

Name     Address              City        State    Zip
WEST FARMS MALL        400 WEST FARMS MALL               Farmington        CT               06032

 BALA-CYNWYD STORE    121 E CITY AVE  Bala Cynwyd      PA         19004

 PRUDENTIAL CENTER     800 BOYLSTON STREET  Boston                MA               02199

 BAY SHORE MALL            1701 SUNRISE HWY        Bay Shore           NY               11706

 NORTHBROOK STORE     1455 LAKE COOK ROAD                Northbrook        IL               60062

 WHITE FLINT STORE        11311 ROCKVILLE PIKE  Kensington         MD               20895

 TWELVE OAKS STORE     27650 NOVI ROAD          Novi      MI         48377

 WILLOWBROOK MALL    4 WILLOWBROOK BLVD.              Wayne                NJ               07470

 MIZNER PARK    200 PLAZA REAL              Boca Raton         FL          33432

 FAIR OAKS MALL             117778 FAIR OAKS MALL             Fairfax  VA               22033

 DANBURY FAIR MALL     7 BACKUS AVENUE          Danbury             CT               06810

 WALDEN GALLERIA STORE           8 WALDEN GALLERIA      Buffalo                NY               14225

 TRUMBULL STORE           5065 MAIN STREET         Trumbull             CT               06611

 NATICK STORE  1245 WORCESTER ROAD              Natick  MA       01760

 CROSSGATES      1 CROSSGATES MALL ROAD         Albany  NY        12203

 DESTINY USA     9629 DESTINY USA DRIVE            Syracuse             NY               13204

 EASTVIEW MALL              7979 VICTOR-PITTSFORD ROAD                Rochester (Victor)                NY        14564

 RIDGE HILL VILLAGE        157 MARKET STREET      Yonkers               NY               10710

 COLUMBIA MALL            10300 LITTLE PATUXENT PARKWAY         Columbia                MD       21044

Court documents and other information about the chapter 11 process are available at https://cases.stretto.com/letote or calling the Company’s restructuring hotline at 1-855-217-8030.

Kirkland & Ellis LLP is acting as legal advisor to the Company and Berkeley Research Group, LLC is acting as restructuring advisor.  Nfluence Partners is acting as the Company’s investment banker and a joint venture of Hilco Merchant Resources and Gordon Brothers are managing the Company’s store closing sales.

About Le Tote Inc.

Le Tote, Inc. is the combination of Le Tote—a venture-backed fashion rental subscription service founded in 2012 in San Francisco—and Lord + Taylor—the iconic luxury retailer which traces its origins to 1826 in New York.  Le Tote, which began as a small San Francisco-based startup and has grown into a market-leading fashion rental subscription service offers “totes” of fashion-forward garments and accessories for a low market price.  Lord + Taylor has long been a trailblazing brand.  It is America’s oldest department store, the first to offer personal shopping, the first to open a branch store -- and the first to have a female president.