Live

Watch CBSN Live

Lord & Taylor shuts flagship store on Fifth Avenue

The fall of Sears
The fall of Sears 08:46

New York - After 104 years, Lord & Taylor's flagship store on Manhattan's Fifth Avenue locked its doors forever.

The venerable department store famed for its animated holiday windows closed down Wednesday afternoon, ending a blowout sale that left whole floors empty. By the end, clothes that once sold for as much as $100 were going for $5.99.

The 11-story building has been sold to the WeWork space-leasing company for more than $850 million.

Forty-five other, smaller Lord & Taylor stores remain open, mostly on the East Coast. In addition, Lord & Taylor-branded merchandise is being sold online through the Walmart website.

The brand is owned by Canadian corporate giant Hudson's Bay Co.

View CBS News In
CBS News App Open
Chrome Safari Continue