The year 2020 saw the closure of Lord & Taylor, America’s oldest department store chain, due to economic challenges from the pandemic and competition from online ,
platforms like Amazon. Founded in 1824, the retailer filed for Chapter 11 bankruptcy in August 2020, initially planning to keep 14 stores open. However, mounting financial pressures led to a full liquidation of all 38 locations.Lord & Taylor’s closure follows similar bankruptcies of iconic brands like Brooks Brothers, J. Crew, and Barneys New York, highlighting the pandemic’s impact on long-established American businesses.
