After 73 years in business, Lord's Department Store will close its doors on Feb. 28.
A retirement sale will start next week.
Nancy Kelly-Lavin, who runs the business with her brother Tom, said the time is right to close the store.
"It took us months and months and months to figure out what we wanted to do but we think the time is right," said Kelly-Lavin. "We have mixed emotions, it's sad, but we're trying to do what's best for our families."
Kelly-Lavin said she and Tom discussed the future of the business with their .
"My father actually talked to us about this and gave us his blessing," she said.
The sale to a "local developer" -- who is not from Medfield but is from a town closeby -- was closed on Dec. 31. The fate of the property is unknown but it is expected to be renovated in the spring then occupied by a new retailer.
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