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Filing for Bankruptcy Protection a Possible Lifeline for Struggling
US'¯Retailers

Mariama Diallo

   The list of U.S.'¯retailers that have filed for bankruptcy during
   2020's sharp economic contraction is long'¯and varied.'¯The companies
   range from those selling inexpensive and off-brand goods to century-old
   name brands that have catered to the rich and famous.

   Lord & Taylor was one of many businesses hit hard by stay-at-home
   orders'¯spawned by'¯the coronavirus pandemic.'¯Launched in 1824, the
   department store found in'¯dozens of'¯American shopping malls'¯recently
   filed'¯for chapter 11 bankruptcy protection. The company last year sold
   its 11-story flagship building on New York's Fifth Avenue, which it had
   owned for more than a century.'¯

   Industry experts say many'¯were'¯struggling before the emergence of the
   pandemic, which proved to be the final blow.

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