When Archie Jafree heard that Lord & Taylor filed for Chapter 11 bankruptcy in early August, he was sad about the fate of the storied retailer with roots dating back to 1824.
Still, the 36-year-old northern Virginia resident acknowledged he hadnt shopped there in months, preferring instead to go to Nordstrom and Zara, where he feels the customer service is better.
It had good quality clothes, Jafree said of Lord & Taylor, but they hadnt evolved with the times.
Many shoppers like Jafree are seeing iconic labels vanish or become mere shadows of themselves, driven in part by a pandemic that has shoved them into bankruptcy but also by changing consumer habits that put less emphasis on brand names and more emphasis on experience.
So far, mo…
Read the full article at: https://www.dailynews.com/2020/09/02/pandemic-fallout-40-plus-retail-chains-bankrupt/
