Beginning with the untimely death of NBA star Kobe Bryant, 2020 quickly went off the rails with the coronavirus pandemic and the civil unrest following the murder of George Floyd.
As the economy struggled to survive the downturn from the pandemic, retailers (including some that are about as old as America herself) struggled as people turned to Amazon and other online stores to get goods delivered to them via the United States Post Office or UPS.
Now, Lord & Taylor – America’s oldest department store chain – is set to close all of its stores after being in business for nearly two hundred years.
Because the economy has crushed this American business, which was sold to a French company last year, it will close all of its 38 stores in a desperate liquidation sale.
This was a change since it filed for Chapter 11 bankruptcy, deciding, at the time, to keep fourteen locations open.