Bloomberg Law
Oct. 19, 2020, 7:34 PM

Saadia Group Plans to Buy Lord & Taylor’s Assets for $12 Million

Leslie A. Pappas
Leslie A. Pappas
Staff Correspondent

Investment firm Saadia Group LLC won a bankruptcy auction for Lord & Taylor LLC’s assets with a cash bid of $12 million, topping a $3.75 million starting bid to broaden its portfolio of distressed fashion businesses.

The sale includes the bankrupt department store’s inventory, intellectual property, social media accounts, customer data, and e-commerce platform, according to a notice filed with the U.S. Bankruptcy Court for the Eastern District of Virginia Oct. 16.

If approved by the court, the deal would mark the New York company’s second acquisition of distressed fashion assets in the last two months. In September, Saadia also ...

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