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It’s official: New York is losing a precious, historic landmark on Fifth Avenue, and it’s safe to assume our holiday window crawl will never be the same. Lord & Taylor is closing its doors after 104 years of business due to the department store’s “increasing focus on its digital opportunity and commitment to improving profitability,” according to the owner of Hudson’s Bay Company.
HBC operates numerous retail outlets including Lord & Taylor stores as well as Saks Fifth Avenue, Saks Off Fifth, GILT and more. The New York Post reports that the 676,000-square-foot store—which sold for a whopping $850 million—will become a WeWork office. Originally, the flagship released a statement that it would downsize to 150,000 square feet, but now the oldest department store company in the country will completely vanish. Visit the landmark IRL while you can. After that, enjoy your online shopping, and if you still want to relish in the glory of the historic building, consider joining WeWork to work in the space.
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