Recently, several triangular-lattice magnets with delafossite structure have been found to display spin-liquid behavior down to the lowest temperatures. Remarkably, applying a magnetic field destroys the spin liquid, which then gives way to symmetry-breaking states, identified as semiclassical coplanar states including a magnetization plateau at 1/3 total magnetization. Here we provide a theoretical approach rationalizing this dichotomy, utilizing a Schwinger-boson theory that captures both ordered and disordered magnetic phases. We show that a zero-field spin liquid, driven by strong frustration, is naturally destabilized in a magnetic field via spinon condensation. Symmetry-breaking order akin to the standard triangular-lattice Heisenberg model then arises via an order-by-disorder mechanism. We discuss implications for pertinent experiments.