Lord & Taylor’ and its parent company Le Tote announced yesterday that it has filed for Chapter 11 bankruptcy. Many stores, including the one at White Flint Mall, will be closing their doors. From an article in Forbes:
The Chevy Chase, Maryland location appears safe, for now, and is operating in a business-as-usual format. But its neighboring branches in Fair Oaks, Columbia, and White Flint are not as lucky. The White Flint, Maryland store has stoically remained in business even though the luxury shopping mall it helped anchor was demolished years ago. A lawsuit between Lord & Taylor and the property’s owner has kept White Flint defiantly in operation over the years.
This closing will no doubt cause many of you to ask, so what does this mean for redevelopment at the Mall? With the bankruptcy less than 24 hours old, a liquidation sale that may well continue through the holidays, an on-going pandemic, and a struggling economy, it may be awhile for things to sort themselves out.