AuctionsApr 04, 2025
25-Carat Burmese Sapphire Brooch Sells for $101KA pink topaz Belle Époque pendant-brooch and a Victorian Egyptian Revival choker were also highlights at a recent Anderson & Garland sale.
MajorsSep 09, 2020
Lord & Taylor to Close All Stores After 200 Years
As the department store chain prepares to liquidate, here’s a look back at its heyday and how it went bankrupt.
A Lord & Taylor department store in 1949. The retailer has plans to liquidate all 38 locations following its recent bankruptcy filing. (Image courtesy of HBC Heritage)
New York—Lord & Taylor, one of the oldest department store chains in the U.S., will soon close its doors after nearly 200 years.
Once a heavyweight in the retail space, here’s a look at how it rose to success and what led it to bankruptcy.
Lord & Taylor was a trailblazer in its heyday.
English immigrants Samuel Lord and George Washington Taylor opened a dry goods store in Manhattan’s Lower East Side in 1826.
Lord & Taylor later found success selling women’s clothing, and was notable for its fashion sense and commitment to customer service. It went public in 1904.
The store relocated six times before moving uptown into its Fifth Avenue flagship in 1914.
At its height, Lord & Taylor was a retail pioneer, introducing the concept of personal shopping and selecting Dorothy Shaver as its president in 1945, the first woman to lead a major retail store.
The company was one of the first to branch out into the suburbs and to promote American designers.
Lord & Taylor struggled to compete in a changing retail environment.
In search of success, Lord & Taylor changed hands several times.
It was acquired by May Department Stores in 1986, which was then acquired by Federated Department Stores, now Macy’s Inc., in 2005.
Private equity firm NRDC Equity Partners acquired Lord & Taylor in 2006. In 2008, NRDC acquired Hudson’s Bay Company, which also owns Saks Fifth Avenue, and put Lord & Taylor under the HBC umbrella, where it remained for more than a decade.
Once a beacon of department store glamour, Lord & Taylor struggled to compete in a changing world.
It sold its flagship Fifth Avenue store, its home for more than a century, to WeWork in 2017. Amazon moved into the building last month.
Once a heavyweight in the retail space, here’s a look at how it rose to success and what led it to bankruptcy.
Lord & Taylor was a trailblazer in its heyday.
English immigrants Samuel Lord and George Washington Taylor opened a dry goods store in Manhattan’s Lower East Side in 1826.
Lord & Taylor later found success selling women’s clothing, and was notable for its fashion sense and commitment to customer service. It went public in 1904.
The store relocated six times before moving uptown into its Fifth Avenue flagship in 1914.
At its height, Lord & Taylor was a retail pioneer, introducing the concept of personal shopping and selecting Dorothy Shaver as its president in 1945, the first woman to lead a major retail store.
The company was one of the first to branch out into the suburbs and to promote American designers.
Lord & Taylor struggled to compete in a changing retail environment.
In search of success, Lord & Taylor changed hands several times.
It was acquired by May Department Stores in 1986, which was then acquired by Federated Department Stores, now Macy’s Inc., in 2005.
Private equity firm NRDC Equity Partners acquired Lord & Taylor in 2006. In 2008, NRDC acquired Hudson’s Bay Company, which also owns Saks Fifth Avenue, and put Lord & Taylor under the HBC umbrella, where it remained for more than a decade.
Once a beacon of department store glamour, Lord & Taylor struggled to compete in a changing world.
It sold its flagship Fifth Avenue store, its home for more than a century, to WeWork in 2017. Amazon moved into the building last month.
The former Lord & Taylor flagship store on New York’s Fifth Avenue, which was sold in 2018 to WeWork. Amazon bought the space last month.
While Lord & Taylor’s flagship was being sold, a $250 million renovation of neighboring Saks Fifth Avenue was underway, which included The Vault, a revamp of its basement into a swanky space dedicated to high jewelry and watches.
In 2019, Hudson’s Bay Company was whittling down its portfolio, looking to shift its focus to the more successful Saks and Hudson’s Bay.
Lord & Taylor got the boot.
The retailer was acquired for the last time by Le Tote, a clothing rental subscription service company.
Le Tote tried to revamp the brand, opening a Lord & Taylor pop-up shop and making the company more tech-savvy, but it was unsuccessful.
Editors' Picks
Sponsored by
The retailer’s reputation also suffered outside of its sales slump.
A location in Dearborn, Michigan made headlines in 2000 when a private security guard was charged with involuntary manslaughter after using a fatal chokehold on shopper Frederick Finley, a Black man who was suspected of shoplifting. Thousands protested outside of its store.
In 2018, the retailer was in the spotlight again after an HBC security breach compromised the personal information of shoppers.
The COVID-19 pandemic put pressure on the struggling retailer.
Lord & Taylor was already fighting to stay afloat when the COVID-19 pandemic struck, forcing the temporary closure of its 38 locations in March.
Last month, Lord & Taylor and Le Tote filed for Chapter 11 bankruptcy protection, joining heavyweights JC Penney and Neiman Marcus.
At the time of filing, its debt obligations reached nearly $140 million.
With a restructuring plan in place, the retailer planned to shutter 24 of its locations and searched for a new owner.
When a buyer failed to emerge, it decided to liquidate all 38 locations.
Store closing sales, orchestrated by liquidators Hilco Merchant Resources and Gordon Brothers, have already begun.
Lord & Taylor joins a long list of bankruptcies and its demise leaves few department stores standing.
As retail titan Amazon settles into Lord and Taylor’s former flagship, the future of department stores remains uncertain.
Barneys New York, a fellow New York department store staple, closed its doors for good last year.
From JC Penney and Sears to Neiman Marcus, major players have recently filed for bankruptcy and shuttered stores.
More than 100 consumer-focused companies went bankrupt this year as of Aug., according to an S&P Global Market Intelligence report.
Of those, 85 were categorized as consumer discretionary, including department stores as well as retailers like J. Crew and Ascena Retail Group.
A location in Dearborn, Michigan made headlines in 2000 when a private security guard was charged with involuntary manslaughter after using a fatal chokehold on shopper Frederick Finley, a Black man who was suspected of shoplifting. Thousands protested outside of its store.
In 2018, the retailer was in the spotlight again after an HBC security breach compromised the personal information of shoppers.
The COVID-19 pandemic put pressure on the struggling retailer.
Lord & Taylor was already fighting to stay afloat when the COVID-19 pandemic struck, forcing the temporary closure of its 38 locations in March.
Last month, Lord & Taylor and Le Tote filed for Chapter 11 bankruptcy protection, joining heavyweights JC Penney and Neiman Marcus.
At the time of filing, its debt obligations reached nearly $140 million.
With a restructuring plan in place, the retailer planned to shutter 24 of its locations and searched for a new owner.
When a buyer failed to emerge, it decided to liquidate all 38 locations.
Store closing sales, orchestrated by liquidators Hilco Merchant Resources and Gordon Brothers, have already begun.
Lord & Taylor joins a long list of bankruptcies and its demise leaves few department stores standing.
As retail titan Amazon settles into Lord and Taylor’s former flagship, the future of department stores remains uncertain.
Barneys New York, a fellow New York department store staple, closed its doors for good last year.
From JC Penney and Sears to Neiman Marcus, major players have recently filed for bankruptcy and shuttered stores.
More than 100 consumer-focused companies went bankrupt this year as of Aug., according to an S&P Global Market Intelligence report.
Of those, 85 were categorized as consumer discretionary, including department stores as well as retailers like J. Crew and Ascena Retail Group.
More on Majors
The Latest
SourcingApr 04, 2025
Mason-Kay Jade to Hold Inaugural International Jade SummitThe event, which will co-locate with the Monterey Bay Jade Festival, will bring education sessions focused on jade to the United States.
CollectionsApr 04, 2025
Piece of the Week: Heather B. Moore’s ‘Lily of the Valley’ CharmThe charm is a celebration of springtime as April showers bring May flowers with the piece’s cluster of diamond raindrops.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
SurveysApr 03, 2025
2025 Retail Sales to Grow More Slowly Amid ‘Uncertainty,’ Says NRFThe National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.
Weekly QuizApr 03, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 03, 2025
Tallulah Willis Imbues Antique Engagement Ring With MagicThe 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.
SourcingApr 03, 2025
Canadian Mine Produces 158-Carat Yellow Diamond Rio Tinto unearthed the diamond at its Diavik mine in Canada’s Northwest Territories.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
CollectionsApr 03, 2025
Buccellati to Open Immersive Exhibition in MilanThe multisensory experience, open April 8-13, will feature the brand’s silver creations among dream-like scenes of natural landscapes.
Policies & IssuesApr 03, 2025
Jewelers of America to Hold Webinar on TariffsThe virtual event will take place April 7 at 3 p.m.
CollectionsApr 02, 2025
Bea Bongiasca’s ‘Tarallo’ Collection Expansion Is a ZooThe pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.
SourcingApr 02, 2025
Winston’s Collection of Natural Color Diamonds Now on Display in D.C. Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.
Events & AwardsApr 02, 2025
Punchmark to Host Client WorkshopThe educational event will take place in Charlotte, North Carolina, this May.
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With AcquisitionThe Utah-based company known for making wedding bands has acquired Doubloon Golf.
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH WatchesThe longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
