Lord + Taylor sold to Le Tote

Published: 28-Aug-2019

US department store sold to clothing rental subscription service for $100m

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US department store Lord + Taylor is to be sold to clothing rental subscription service Le Tote in a $100m deal.

Current owner Hudson’s Bay will receive $99.5 million Canadian dollars ($75 million) in cash after the deal closes and a secured promissory note of CA$33.2 million ($25 million) payable in cash after two years.

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