Lord & Taylor closing for good after company goes unsold following bankruptcy

[brooklynite]

Source: WABC News

The first department store ever established in the U.S. is closing its doors for good.

Lord and Taylor announced Thursday it will shut down its remaining 38 stores.

The high-end retailer was in business for 194 years, but it filed for bankruptcy on August 2.

The liquidator for the company said customers can expect deep discounts on merchandise both in stores and online.


Read more: https://abc7ny.com/business/lord-and-taylor-americas-first-department-store-closing-for-good/6392509/

[bucolic_frolic]

1. Lord are we gonna need a tailor after clothing retailers shrink

What's left? Macy's, Kohl's, Nordstroms. Regionals. Is there still a Federated? Penney's gobbled up. This is worse than '73-75.

Drab sweats and unisex uniform in our future. Conspicuous consumption, affluenza, consumerism all in danger.

It was kind of wasteful.

[BonnieJW]

4. Nordstrom is still alive and kicking

They are still family owned and they have invested very carefully through the many years they have been in business. They only hold two sales each year and people line up for them. Their sales are down which is to be expected right now, but don't give up on them.

[bucolic_frolic]

8. All we have in the mid-Atlantic is Nordstrom Rack

Reminds me of an upscale Marshall's. They do a vigorous business, but the selection obviously is but a sampling. Back to Macy's.

[Sherman A1]

2. Sad, but

No surprise.

[Initech]

10. Well, the retail apocalypse was happening long before the COVID apocalypse.

I feel like we're heading towards Idiocracy and it will just be one giant Costco the size of Kansas that everyone goes to.

[Sherman A1]

11. Very true

The pandemic simply accelerated what was already going to happen. Granted some stores might have had a better chance or perhaps made a soft landing in some cases, but all bets are off now.

[Yavin4]

13. It probably will be Kansas.

All citizens of the state will work and live in a huge mall/warehouse.

[Initech]

14. I feel like it will be one giant Costco for retail...

And one giant Amazon warehouse for everything else. And I also see a world where Uber drivers take Lyft drivers to and from getting their cars serviced.

[mrsadm]

3. Ya but we're all working from home now wearing track suits and baggy jeans

I love the department stores, grew up with them... My Mom would take me shopping there once or twice a year, so I'm kind of nostalgic.
But now all I need is a hairstyle and earrings to work using Zoom.

[sdfernando]

6. I hope you wear more than a hairstyle and earrings while WFH!!

I don't like shopping in stores at all....I'm get in, get what I came for, and get out kinda guy. I think that comes from my childhood when my mom would take us kids with her "shopping". We spent hours walking around different stores and such and she wouldn't buy a damned thing.

[Botany]

5. Macy's is going to be next

Just a guess.

[Marthe48]

7. The stores that catered to a healthy middle class are going

Because the middle class is being destroyed.

Revolution comes from the middle class. The poor are preoccupied with basic survival and the rich want to maintain the status quo to get richer.

The department stores closing means a lot more than bankrupcty. There is a critical lack of customers and that is a deliberate attack on the middle class.

This is the divide: shop at walmart for junk or seek out high end stores that sell trump junk.

[moonscape]

9. Aw :( Lord and Taylor was my go-to when

I lived in Manhattan in the 70's. But I guess my purchases back then could only sustain them for so long ...

[elleng]

12. ;-(