The company said in a statement that it has begun the liquidation process and intends to close a "significant portion, if not all" of its stores. However, for decades, the company once thrived as a go-to destination for women's apparel.
New York & Co. got its start as a blouse store in Manhattan called Lerner Shops in 1918, eventually flourishing into a sprawling chain of women's wear stores across the US. Over the years, the popular retailer became one of the first national chains to join shopping centers and malls, establishing itself as an early mainstay of the American mall.
In 1985 it was purchased by The Limited Brands and renamed New York & Company, the brand consumers know today. Though the store remained successful through the early aughts, it eventually fell prey to the retail apocalypses and joined its mall brand peers in the struggle to compete with the e-commerce boom and dwindling foot traffic.
By 2020, years of slumping sales paired with temporary store closures during the coronavirus outbreak served as the nail in the coffin for New York & Co. We took a closer look at the rise and fall of the brand over the years.
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