Lord & Taylor Closing All Its Stores After Nearly 200 Years In Business

Lord & Taylor, the first department store to be established in the United States, is going out of business, closing all its stores after a 194-year run.

Joe Lombardi

08/27/2020 4:20 p.m.

Reversing a decision announced last week to keep 14 stores open, the company announced on Thursday, Aug. 27 that all of its 38 remaining stores and website have begun liquidation sales.

Parent company Le Tote had filed for bankruptcy Sunday, Aug. 2.

"While we are still entertaining various opportunities, we believe it is prudent to simultaneously put the remainder of the stores into liquidation to maximize value of inventory for the estate while pursuing options for the company's brands," the company said in a statement.

English-born Samuel Lord and his wife's cousin, George Washington Taylor, opened the first store in lower Manhattan in 1826.

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