Lord & Taylor Closes Flagship Manhattan Store

Lord & Taylor's flagship store in Manhattan was sold to WeWork for $850 million in October. The retailer said it would rent around 25% of the space and operate as a scaled-down version of its former self. But on Tuesday, Lord & Taylor announced that it would be closing the location completely. The department store has been at that location for 100 years. The building will now serve as WeWork's headquarters.