America’s Oldest Department Store Is Closing All Its Stores After 200 Years


In a year marked by the untimely death of NBA star Kobe Bryant, the outbreak of the coronavirus pandemic, and the civil unrest following the murder of George Floyd, 2020 proved to be a tumultuous one for the United States. As the economy struggled to cope with the pandemic’s impact, traditional retailers faced a daunting challenge as consumers increasingly turned to online shopping platforms like Amazon. Among these retailers is Lord & Taylor, America’s oldest department store chain, which is now preparing to close all of its stores after nearly two centuries in business.

The Fall of a Retail Icon
Due to the economic hardships imposed by the pandemic, Lord & Taylor, which was sold to a French company last year, is set to shutter all 38 of its stores in a desperate liquidation sale. This marks a significant shift from its earlier decision when it filed for Chapter 11 bankruptcy, opting to keep fourteen locations operational.

Lord & Taylor’s illustrious history dates back to 1824 when it opened its doors in Manhattan as a dry goods store, pioneering the concept of the department store in the United States. The store continued to innovate for decades until its acquisition by the French clothing company, Le Tote Inc., last year.

Both Lord & Taylor and Le Tote Inc. filed for bankruptcy in the Eastern Court of Virginia in August 2020, signaling their struggle to adapt to the changing retail landscape.

A Changing Landscape
Even before the pandemic struck, Lord & Taylor was making strategic moves. They sold their iconic Fifth Avenue store to the French, ending their century-old ownership. The building was subsequently acquired by Amazon, reflecting the tech giant’s expansion into Manhattan’s office space market.

Please Head On keep on Reading (>)

Related Posts

My Son Brought a Woman My Age, Saying She’s Now the Lady of the House – They Didn’t Like the Lesson I Prepared for Them

It all started the day my son, Ryan, brought home a woman about 20 years older than him and announced she was moving in. At first, I…

My Future Brother-in-Law Was Always a Pain, but He Went Too Far at Our Wedding and That Was the Last Straw for My Fiancé and Me — Story of the Day

My future brother-in-law was always a problem—rude, arrogant, and always pushing boundaries. But on my wedding day, he crossed a line we could never forgive. He humiliated…

I Came Across a Cat with an ID Tag in My Garden — After Calling the Number, I Turned Down $100,000, but Found Happiness

When I found a sleek black cat in my garden, I never expected it to lead to a life-altering decision. Returning Archibald to his owner seemed simple…

We Paid for My Stepdaughter’s Honeymoon, but She Called Us ‘Cheap’ — So We Taught Her a Lesson in Respect

What happens when a dream honeymoon isn’t dreamy enough? One shocking phone call from my stepdaughter set the stage for a lesson in gratitude she never saw…

My Husband Yelled When He Found a Pregnancy Test in the Trash, but I Stayed Silent Knowing It Wasn’t Mine – Story of the Day

Jennifer had been feeling distant since she married Martin because of his daughter. No matter how hard she tried, she couldn’t fit into their family. Her biggest…

After My Divorce, I Was Bullied by My Ex-husband’s Family – They Were Taught a Harsh Lesson by a Person I Didn’t Expect

Teresa thought she had it all with Shawn, her high school sweetheart turned husband. But as his ambition faded, so did their marriage. Following a bitter divorce,…

Leave a Reply

Your email address will not be published. Required fields are marked *