After nearly 200 years in business, Lord & Taylor, America’s oldest department store, is closing all of its stores.
The chain, which began in Manhattan in 1824, filed for Chapter 11 bankruptcy due to the economic challenges of 2020, including the impact of the global pandemic and the shift toward online shopping. Initially planning to keep 14 stores open, Lord & Taylor now plans to close all 38 locations in a final liquidation sale. This closure marks the end of an era for a historic retailer and highlights the changing landscape of the retail industry in the wake of COVID-19, which has also affected other iconic stores like Brooks Brothers and J.C. Penney.