Lord & Taylor, Men’s Wearhouse owner file for bankruptcy

NEW YORK (AP) — Lord & Taylor, one of America’s oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. Tailored Brands, the parent company of Men’s Wearhouse and Jos. A. Banks, filed for bankruptcy as well.

Many of the companies that have filed for Chapter 11 in recent weeks were already struggling, but the forced closure of non-essential stores in March pushed them to the brink.

Lord & Taylor, which was sold to the French rental clothing company Le Tote Inc. last year, filed Sunday for bankruptcy protection in the Eastern Court of Virginia.

In an announcement on its website the company, one of the oldest American department stores, said it was looking for a new owner.

Like many retailers, Lord & Taylor was already struggling with the shift to online shopping even before the pandemic struck this spring. Last year, it sold its flagship building on New York’s Fifth Avenue after more than a century in the 11-story building.

The company was founded as a dry goods store in 1826. There are several dozen Lord & Taylor stores across the country.

Tailored Brands, which filed for Chapter 11 Sunday in the Southern District of Texas, said it would continue to operate Men’s Wearhouse and Jos. A. Banks stores, along with K&G Fashion Superstore and Moores Clothing for Men, which it also owns. It said in a release that a restructuring plan is expected to reduce the company’s funded debt by at least $630 million and provide increased financial flexibility.

As many people have switched to working at home, brands that sell clothes targeted at offices workers have had a particularly hard time. Brooks Brothers and the parent company of Ann Taylor are among those that have also filed for bankruptcy.

As of July 23, roughly 40 retailers, including big and small companies, had filed for Chapter 11 bankruptcy so far this year. That exceeds the number of retail bankruptcies for all of last year. About two dozen of them have sought bankruptcy protection since the pandemic started.

Others include J. Crew, J.C. Penney, Neiman Marcus, Stage Stores, and Ascena Retail Group, which owns Lane Bryant in addition to Ann Taylor.

Associated Press

Thousands march and dance in New York's Gay Pride parade

NEW YORK -- Tens of thousands of people waving rainbow flags and hoisting political banners marched and danced on the streets of New York on Sunday in the latest festive edition of the Gay Pride parade that began in Central Park in 1970.

On foot, on roller skates, on motorbikes or riding on some 100 spectacularly colorful floats, participants moved slowly on a hot, sunny day along the two-mile (three-kilometer) parade route from historic Stonewall Inn in Greenwich Village, over to Fifth Avenue, then up to 29th Street.

The route was altered this year in anticipation of the celebrations planned for next year to mark the 50th anniversary of the Stonewall riots between gay nightclub patrons and police that, in 1969, gave birth to the US movement for gay rights.

Many of Sunday's marchers were scantily dressed, like one clad only in a bikini with a rainbow-colored bottom and a pink top.

Another tanned and well-toned man on roller skates wearing a skimpy red trikini that amply displayed his sculpted abdominal muscles somehow managed to catch photographers' attention. He carried a sign that simply said "Love."

The theme of this year's parade was "Defiantly Different," a message inspired in reaction to President Donald Trump's treatment of the LGBTQ community, organizers said.

For the second straight year, many marchers carried anti-Trump banners and signs, criticizing policies seen as anti-gay.

For flamboyant Democratic New York Council member Corey Johnson, who at 36 is openly gay and is the city's first legislative leader with HIV, the slogan reflects New York's diversity: It has the nation's largest LGBTQ community, a population more than 40 percent foreign-born and where "more than 200 languages are spoken" just in the borough of Queens.

"As Lady Gaga says, 'I was born this way,'" he told the local ABC subsidiary, before returning to the parade, dancing and jumping with a rainbow banner streaming from his hand.

In a heavily Democratic city where gay voters matter, Johnson was not the only politician taking part: Also marching were Mayor Bill de Blasio, US Senator Chuck Schumer and New York Governor Andrew Cuomo, who walked behind a big banner reading "New York State of Love."

The parade's grand marshal this year was tennis legend Billie Jean King, 74, a lesbian and an outspoken defender of gender equality and LGBTQ rights, who rode in a carriage under a big, rainbow-colored parasol.

The atmosphere in this year's parade was much lighter than last year, when many marchers paid somber tribute to the 49 people killed in a mass shooting at a gay nightclub in Orlando, Florida.

source: news.abs-cbn.com

WATCH: Pia Wurtzbach shows New York apartment

MANILA – Miss Universe 2015 Pia Wurtzbach of the Philippines gave the American television program “Inside Edition” a quick tour of her apartment in New York.

Wurtzbach showed “Inside Edition” her living room with a view of Fifth Avenue and her kitchen which, she said, she has yet to use because of her busy schedule.

“I don’t really have the time to cook although I am a culinary graduate. I love to cook, I also love to eat,” she said.

The Filipina beauty queen also brought out her Miss Universe crown as well as the blue gown she used during the pageant.

When asked by “Inside Edition” about the idea of sharing the crown with Miss Colombia Ariadna Gutierrez, who was wrongly proclaimed winner by Steve Harvey, Wurtzbach said it’s “not a good idea.”

“I understand where she’s coming from,” she said.

Watch the complete video

source: www.abs-cbnnews.com

Apple fans line up for new iPhone 6

NEW YORK/SAN FRANCISCO - Apple Inc's latest phone lured throngs of gadget lovers, entrepreneurs and early adopters to its stores in New York, San Francisco and other cities around the world in the latest sign of strong initial demand for the new, larger generation of iPhones.

Even the night before the phones' Friday debut, nearly 70 people were waiting in line in front of the Apple store in downtown San Francisco. Some eager to get their hands on the iPhone 6 and iPhone 6 Plus, which feature larger screens and longer battery life, had been there since the night before.

At the Apple store on Fifth Avenue in New York, the line of would-be buyers stretched for more than 10 blocks. Apple employees led them in a New Year's Eve-style countdown to herald the store's opening at 8 a.m. EDT (1200 GMT) and high-fived customers as they entered the glass cube leading to the underground store.

In Atlanta, police were called in before 5:30 a.m. to assist with crowd control at one mall location because of worries about trampling, the Atlanta Journal-Constitution reported.

While it has become customary for swarms of people to greet Apple product introductions, Friday's long lines were still a sign of healthy demand for the new models. The phones drew more than 4 million preorder requests in the first 24 hours on Sept. 12, more than double the 2 million for iPhone 5s in the same period two years ago.

The enthusiastic crowds gathered despite signs that Apple's legendary "cool factor" may be dimming with some consumers, according to a recent Reuters/Ipsos poll.

Sales predictions from investors tend to be optimistic. Apple watchers tracking the early sales of the new iPhones note that the precise number of units sold in the first weekend will depend on the strength of the supply chain. A Friday report from Barclays cited the long lines outside stores as a positive sign for demand, suggesting that combined first-weekend sales for the new phones could rise as high as 11 million units.

Despite the high demand, sales could be choked by a limited number of iPhone 6 Pluses available immediately. A T-Mobile US Inc spokeswoman said Friday that demand for the new phones was "tremendous," but the larger model would not be available yet.

Paul Terrebonne, a 26-year-old cook who had preordered his space-grey iPhone 6, said the size of the new devices had been enough to lure him back to Apple from his previous phone, a Motorola Moto X.

"It's all about screen size, plus I missed the iPhone's camera," he said, adding that he had shunned the iPhone 6 Plus because it was "a bit too big."

The launch attracted buyers from farther afield. Flavio Gondim, a 40-year-old Brazilian public sector employee, said he was buying an iPhone 6 in New York because "back home these are, maybe, 50 percent more expensive."

In Asia, many who lined up to buy the new phones in Singapore, Hong Kong and Australia said they planned to re-sell the devices in China, where regulatory hurdles are holding up the new phones' debut.

It remains to be seen whether the renewed iPhone mania will extend to Apple's other big product introduction, the Apple Watch, which will not be available until early next year.

Raj Kaur, who was comfortably waiting in line in San Francisco in a folding chair, said she did not plan to repeat the vigil for the new watch.

"I'll wait for the second edition," she said, "when they've worked out the kinks."

source: www.abs-cbnnews.com