Lord & Taylor is closing all of its stores after 194 years in business


(Source: CNN Newsource)

(CNN Newsource)—The first department store ever established in the US is closing its doors for good.

Lord & Taylor announced Thursday it will have to shut down all 38 of its remaining stores.

The high-end retailer was in business for 194 years.

Lord & Taylor filed for bankprupcy on Aug. 2. The plan originally called for the company to leave some locations open, but the rtailer said it was a better financial decision to close all of them.

The liquidator for the company said customers can expect deep discounts on merchandise both in stores and online.

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