The Lord & Taylor at Monmouth Mall in Eatontown is going to be closing after this upcoming holiday season.

After being in business for nearly 30 years, the company explained that the closing is part of a," bigger strategy to balance its bricks-and-mortar stores with online shopping."

This announcement comes shortly after Monmouth Mall owners, Kusher Cos. and Brookfield Properties, unveiled their plan to have the retail space undergo a major renovation which will include retailers, restaurants, entertainment and luxury apartments.

To take a look at the original article and video of what the new-and-improved Monmouth Mall will look like at APP.com.

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