Iconic Department Stores That Are Going Under (And Who’s Already Failed)

A stroll through the mall proves how ugly it is in retail land. Once-popular stores lack customers as they advertise liquidation sales, preempting shutdowns. Even many established department stores that once dominated the industry can’t keep it together.

Here are the stores on thin ice, including one iconic department store that can’t seem to attract customers (page 9), and one that keeps trying to right the ship but keeps sinking further into oblivion (page 11).

13. Lord & Taylor

lord & taylor store

They’ve sold their flagship store. | Dipasupil/Getty Images for Lord & Taylor

  • Years in business: 192

A telltale sign of a struggling store: When it sells its flagship location on Fifth Avenue in New York City. Unfortunately, that’s exactly what Lord & Taylor, which has been in business since 1826, did.

The client who moved into the space, WeWork, is a rental co-working office space venture that embodies modern trends. Retail is dead, and so are traditional work environments.

Next: A riches-to-rags tale of a Midwest chain

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