The rise and fall of New York & Company, the once-beloved American mall staple and go-to destination for women's apparel for more than a century

New York & Co. was founded in 1918 as a blouse store called the Lerner Shops.

The company was started in New York City by Samuel A. Lerner and Harold M. Lane.

The business quickly expanded, growing to a total of 23 stores by 1920.

By 1930, Lerner had swelled to 160 stores across 37 states.

Lerner Shops was known for being "sleek and stylish" and soon became a "retail staple of America's downtowns."

Over the next few decades, Lerner Shops made strides within the retail industry, including becoming one of the first major chains to move into shopping centers and malls.

The brand's success within American malls eventually caught the eye of The Limited Brands, which acquired Lerner Shops in 1985. By 1992, its name was changed to Lerner New York.

Astrid Stawiarz/Getty Images for New York & Company

The brand's success within American malls eventually caught the eye of The Limited Brands, which acquired Lerner Shops in 1985. By 1992, its name was changed to Lerner New York.

Under the leadership of The Limited Brands, Lerner spent the first several years post-acquisition reimagining its image and diversifying its product assortment for an audience of professional women.

Within its shops, it introduced a collection called New York & Company, which "was designed to emphasize the style and color of New York City fashions."

The clothing line name resonated, and in 1995, the company officially changed its name to New York & Company as we know it today.

In 2002, New York & Company was acquired by Bear Stearns Merchant Banking — a private equity company now known as Irving Capital — and became a fully independent company

By the early aughts, New York & Company had caught its stride and became a popular destination within American malls.

Buoyed by a series of profitable and successful years, New York & Co. officially went public in 2004.

To honor its momentum and its roots, the company opened its flagship store in Manhattan on Lexington Avenue in 2005.

However, as the years passed, the company found itself battling similar struggles as its shopping mall peers as consumers increasingly turned to e-commerce and foot traffic in physical stores fell.

Still, the company managed to bring on celebrity partners like actress Eva Mendes, who launched a series of collections with the brand starting in 2013.

Angela Weiss/Getty Images for New York & Company

LOS ANGELES, CA - MARCH 18: E! Entertainment correspondent Catt Sadler and actress Eva Mendes at the launch of the Eva Mendes for NY&C Spring 2014 collection with a pop-up shop at The Beverly Center on March 18, 2014 in Los Angeles, California. (Photo by Angela Weiss/Getty Images for New York & Company)

Among the brand's popular celebrity collections included a line with actress Gabrielle Union in 2015 ...

S. Savenok/Getty Images for New York & Company

... and actress and singer Jennifer Hudson that same year.

In 2018, CEO Greg Scott announced the company would rebrand to RTW Retailwinds in "a defining moment in our corporate reinvention."

As RTW, the new vision was focused on "developing celebrity and sub-brand collections that resonate with our consumers."

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Source: Businesswire

Still, even a rebranding couldn't save the company. Two years of struggling sales paired with the blow of the coronavirus pandemic led the company to file for bankruptcy on July 13.