Hudsons Bay Co Signs Deal To Sell Lord And Taylor Banner To Le Tote

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TL;DR

That Le Tote speaks to how far department stores have fallen. 5 million in cash when the deal closes and a secured promissory note for $33. 2 million payable in cash after two years. Hudsons Bay Companies HBAYF according to a statement from the companies on Wednesday. It will also continue to own the real estate and leases associated with the remaining 38 Lord & Taylor stores. During that time Le Tote expects to keep the stores open and will continue to employ most of Lord & Taylors staff

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