The tumultuous year of 2020, marked by Kobe Bryant’s tragic death, the coronavirus pandemic, and civil unrest after George Floyd’s murder, also saw economic upheaval. Traditional retailers struggled as online platforms like Amazon surged. Lord & Taylor,
America’s oldest department store chain founded in 1824, announced the closure of all 38 stores after filing for Chapter 11 bankruptcy in August 2020. Initially planning to keep some locations open, economic pressures forced a complete shutdown. Acquired by Le Tote Inc.
the previous year, Lord & Taylor joins other historic brands like Brooks Brothers and J.C. Penney that faced bankruptcy amid the economic crisis.
