In the mid-1900s, Lord & Taylor was an American success story. What started as a small dry goods store in New York evolved into a luxury fashion destination that defined what women wore. Three-quarters of a century later, all that’s left of Lord & Taylor are memories and an unfinished website.

So, what happened to Lord & Taylor? How did a brand that shaped retail disappear from people’s minds so quickly? Let’s look at the dramatic rise and fall of Lord & Taylor, and speculate on what lies ahead for this once-iconic fashion brand.

Lord & Taylor began in 1826 when Samuel Lord and George Washington Taylor opened a tiny shop on the lower east side of Manhattan. By the late 1800s, the shop had evolved into a full department store. Various sources cite Lord & Taylor as the oldest department store in the U.S., but it was not the first of its kind. According to the Smithsonian , that title belongs to the Marble Palace — opened in 1848 on 280 Broadway in New York by Irishman Alexander Stewart. Lord & Taylor followed the lead of Marble Palace, opening its first flagship store on Broadway in 1859. Other stores followed, creating shopping districts that would shape New York’s culture for the rest of time.

Lord & Taylor became an anchor store to an area known as Ladies Mile. The store enjoyed continued success for several decades, but fell into hard times after the Panic of 1873. A loan from retired partners kept the business afloat.