One in three of today’s babies will live to see their 100th birthday, according to British government statistics.
Businesses face much longer odds, according to data from the Bureau of Labor Statistics (BLS).
- 79.6% survived one year.
- 68.9% survived two years.
- 50.6% survived five years.
- 42.8% survived seven years
- 34.7% survived 10 years
Making it to 100, however, is extraordinarily rare.
Researcher Vicki TenHaken, who has studied U.S. companies that have been in business for a century or more, identified at least 1,200 businesses in continuous, independent operation for 100 years or more in 2020. She estimated that those businesses represented just 0.02% of U.S. companies.
Hitting your hundredth birthday as a retailer, a restaurant, or a single location of a larger chain rarely happens.
Hurwitz Mintz, a 102-year-old furniture chain will be closing its doors, joining a larger group of 100-year-old or older business that have closed over the past 12 months. Much like when my great-grandmother died at 99, it’s a loss that will hurt, but one that should also be celebrated because of the achievement of surviving that long.
Hurwitz Mintz closing after 102 years
Hurwitz Mintz shared on its website that it is closing and is offering 60% to 70% off storewide as it winds down operations. The sale has already begun and all sales are final, according to the company.
“All sales are FINAL SALE and sold AS IS — no holds, returns, exchanges, refunds, credits, or cancellations. No special orders. Promotion valid while supplies last. See store for details,” the company posted.
No reason was provided for the closure.
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The closing date is open-ended depending on the liquidation of their current inventory, a Hurwitz Mintz manager told local news station WWL.
“Hurwitz Mintz has been proud to be a part of the greater New Orleans community, serving generations of families and becoming part of the homes of so many,” Hurwitz Mintz said in a statement to the news station. “We are grateful for the time we shared with the community, our employees, and for everyone who made it all possible.”
The company has been owned and operated by the Mintz family for three generations.
Hurwitz Mintz has not said why it is closing.
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More business giants closing or closed after 100 years
Hurwitz Mintz joins a number of other distinguished companies or retail locations to call it quits at, or even well after, 100 years in the past months.
The reasons these businesses are disappearing vary widely, from retirement and succession issues to bankruptcy and corporate restructuring. But their closures illustrate how difficult it is to preserve a business across multiple generations of owners, consumers and economic conditions.
- Neiman Marcus downtown Dallas: 112 years at its Main Street location: The iconic downtown flagship closed Sept. 30, 2026, ending more than a century at the location. Saks Global, which owns Neiman Marcus, confirmed the closure as part of its restructuring after filing for Chapter 11 bankruptcy. Neiman Marcus is not leaving Dallas. It is concentrating its operations at its NorthPark Center location, according to the Dallas Morning News.
- Baker’s Main Street Furniture: Garland, Texas: The family-owned furniture retailer is closing after 103 years in business. Owner David Baker is retiring, bringing the three-generation family business to an end, reported Furniture Today.
- Laurel Grocery Company, London, Kentucky: The grocery wholesaler closed in 2025 after more than 100 years in business. The company had operated since 1922, according to WKYT.
- Pelot’s Rexall Pharmacy, Bradenton, Florida: The family pharmacy closed March 4, 2026, after more than 130 years in business. The Miami Herald reported that owner Robert Pelot cited his age as one factor in the decision.
- Minerva Bakery: McKeesport, Pennsylvania (2026): The bakery closed in September 2026 after 103 years in business. The family-owned shop had been operating since 1923, according to CBS Pittsburgh.
These stories show that reaching 100 requires more than surviving economic downturns. A business also has to navigate multiple generations of owners, employees and customers while adapting to a changing market.
What it takes for a business to reach 100 years
Former IBM CEO Lou Gerstner doesn’t think that reaching 100 can be a company goal.
“I don’t see how it can help the management team if one of the primary objectives is getting to 100. It’s not something they can execute on. I’m not sure what you can do to guarantee success in that time frame, or even on a 20- to 30-year view,” he told McKinsey.
He made it clear what it takes to reach that milestone.
“Remember that the enduring companies we see are not really companies that have lasted for 100 years. They’ve changed 25 times or 5 times or 4 times over that 100 years, and they aren’t the same companies as they were. If they hadn’t changed, they wouldn’t have survived,” he added.
Quest Global Chief Strategy Officer Yumi Clevenger-Lee wrote about company longevity for Fast Company.
“Building a company that has what it takes to celebrate 100 years is made up of slow and steady progress — the kind that is achieved day by day. Using your North Star as guidance, take care of the present by focusing on these five daily priorities to build a company for the future,” she wrote.
