The tumultuous year of 2020, marked by the tragic death of NBA star Kobe Bryant, was further marred by the coronavirus pandemic and civil unrest following George Floyd’s murder. As the economy faced challenges due to the pandemic, longstanding retailers struggled against the rising dominance of online platforms like Amazon. America’s oldest department store chain, Lord & Taylor, founded in 1824, is now set to close all 38 of its stores after nearly two centuries in business.
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