Lord and Taylor

Retail
Lord & Taylor To Liquidate All Stores

After filing for Chapter 11 bankruptcy protection and unable to find a buyer, Le Tote, Inc. and Lord & Taylor will now conduct going out of business sales at all 38 stores and on the retail brand’s website.

Retail
Lord & Taylor Slates Five More Store Closures

Le Tote, Inc. and Lord & Taylor, which recently filed for Chapter 11, said they continue to review offers for a sale of the company and its brands. Meanwhile, the company added five more Lord & Taylor stores to the list of stores that are now participating in the store closing sale process led by a joint venture of Hilco Merchant Resources and Gordon Brothers.

Retail
Lord & Taylor Files Chapter 11

On August 2, Le Tote, Inc. and certain of its subsidiaries including Lord & Taylor, filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Eastern District of Virginia. The company will simultaneously solicit bids for a going concern sale of both its Le Tote and Lord + Taylor businesses, and conduct targeted store closing sales.

Retail
Hudson’s Bay Completes Sale Of Lord & Taylor

Hudson’s Bay Company has completed the sale of Lord + Taylor to Le Tote, a leading fashion rental subscription service, for $75 million in cash and a secured promissory note for $25 million payable in cash after two years, subject to customary adjustments.

Financials
Hudson’s Bay Struggles Through Q1 Despite Saks Gains

Although Hudson’s Bay has taken a number of significant steps to right its financial course, including winding down its Home Outfitters chain and selling its German operation, the company still posted a bigger first quarter adjusted net loss. The bigger loss came despite improvement at its Saks department store and off-price operations.

Financials
Loss In Q2 Drives Hudson’s Bay To Action

As Hudson’s Bay released its second quarter results including a company-wide 0.4% decrease in comparable sales and a larger loss, the department store retailer said it is forming a strategic partnership for its European business. 

Retail
Hudson’s Bay In Talks With Signa On European Joint Venture

Hudson’s Bay Co. has refuted recent reports it had signed a binding agreement to sell or combine its European business or properties but acknowledged that it is in discussions with Signa Holding GmbH exploring a potential joint venture and has signed a non-binding letter of intent with that firm.

Retail
Hudson’s Bay Forms Strategic Partnership With WeWork

Hudson’s Bay is aiming to reshape its retailing business. The company has formed a series of transactions with WeWork Companies, Rhône Capital and an affiliate of WeWork Property Advisors, a joint venture between WeWork and Rhône, which it said will create a multi-faceted strategic relationship designed to maximize the value of its global real estate assets and position its retail businesses.

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