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

The year 2020 ushered in unprecedented challenges, from the tragic loss of NBA icon Kobe Bryant to the global pandemic and civil unrest following George Floyd’s murder.

These events reverberated across society, notably impacting the economy and retail sector. Among the casualties was Lord & Taylor, America’s oldest department store chain, succumbing to Chapter 11 bankruptcy after nearly two centuries in operation.

Originally planning to keep fourteen stores open, they were forced into a full liquidation sale, closing all 38 locations. The pandemic’s economic toll extended beyond Lord & Taylor, affecting other iconic retailers like Brooks Brothers and J.Crew, signaling a transformative shift in the retail landscape with lasting implications for the economy.