Editing Hudson's Bay Company (section)

=== Lord & Taylor ===
[[File:Lord & Taylor Manhasset, NY 37 (51206727602).jpg|thumb|[[Lord & Taylor]] in [[Manhasset, New York]]]]

On 24 January 2012, the ''[[Financial Post]]'' reported that Richard Baker (owner of NDRC and governor of Hudson's Bay Company) had dissolved [[Hudson's Bay Trading Company]] and that the HBC would now also operate the [[Lord & Taylor]] chain. At the time, the company was run by president [[Bonnie Brooks]].<ref>{{Cite news |title=America's Lord & Taylor gets some family help |work=The Globe and Mail |url=https://www.theglobeandmail.com/globe-investor/americas-lord-taylor-gets-some-family-help/article2311540/}}{{dead link|date=October 2015}}</ref> Baker remained governor and CEO of the business, and Donald Watros stayed on as chief operating officer.<ref name="Hudson's Bay Trading Company dissolved">{{Cite news |last=Shaw |first=Hollie |date=23 January 2012 |title=Hudson's Bay Co. completes purchase of Lord & Taylor: report |work=Financial Post |url=http://business.financialpost.com/2012/01/23/hudsons-bay-co-completes-purchase-of-lord-taylor-report/ |url-access=subscription}}</ref>

In 2018, HBC in a joint venture sold the building that housed its flagship [[Lord & Taylor]] store on Fifth Avenue in Manhattan to [[WeWork]] Property Advisors for $850 million. WeWork was set to occupy the uppermost floors of the building, with the rest of the building remaining a flagship space for Lord & Taylor.<ref>{{Cite press release |title=HBC and WeWork Enter into Global, Multi-Faceted Strategic Relationship |date=2017-10-24 |publisher=Hudson's Bay Company |location=Toronto & New York |url=http://www.businesswire.com/news/home/20171024005878/en/HBC-WeWork-Enter-Global-Multi-Faceted-Strategic-Relationship |via=[[Business Wire]] |access-date=2025-03-28 |url-status=deviated |archive-url=https://web.archive.org/web/20180129005915/http://www.businesswire.com/news/home/20171024005878/en/HBC-WeWork-Enter-Global-Multi-Faceted-Strategic-Relationship |archive-date=2018-01-29}}</ref><ref name=":1">{{Cite news |last=Hodges |first=David |date=2017-11-01 |title=HBC should accept unsolicited $4.5B offer for German real estate: investor |url=https://www.ctvnews.ca/business/article/hbc-should-accept-unsolicited-45b-offer-for-german-real-estate-investor/ |access-date=2025-03-28 |work=[[CTV News]]}}</ref> The deal also included the use of floors of certain HBC-owned department stores in New York, Toronto, Vancouver and Germany as WeWork's shared office workspaces.<ref name="financialpost.com" /><ref>{{Cite press release |title=Hudson's Bay Company Responds to Land & Buildings Press Release |date=2 November 2017 |publisher=[[Business Wire]] |url=http://www.businesswire.com/news/home/20171102005748/en/Hudson%E2%80%99s-Bay-Company-Responds-Land-Buildings-Press |access-date=10 January 2018 |url-status=deviated |archive-url=https://web.archive.org/web/20171108022729/http://www.businesswire.com/news/home/20171102005748/en/Hudson%E2%80%99s-Bay-Company-Responds-Land-Buildings-Press |archive-date=2017-11-08}}</ref>

In August 2019, HBC announced that it would sell their Lord & Taylor business to [[Le Tote]] Inc., which was to pay {{CAD|99.5 million}} in cash when the deal closes (probably before year end 2019) and an additional {{CAD|33.2 million}} two years later. HBC was to get a 25 per cent equity stake in Le Tote.<ref>{{Cite news |last=DiNapoli |first=Jessica |last2=Dowsett |first2=Sonya |date=2019-08-28 |title=Hudson's Bay to sell Lord + Taylor for $100 million |url=https://www.reuters.com/article/business/hudsons-bay-to-sell-lord-taylor-for-100-million-idUSKCN1VI1LV/ |archive-url=https://web.archive.org/web/20190831133144/https://ca.reuters.com/article/businessNews/idCAKCN1VI1LV-OCABS |archive-date=2019-08-31 |access-date=2025-03-27 |work=[[Reuters]]}}</ref> The buyer would retain the stores' inventory, with an estimated value of {{CAD|284.2 million}}. The deal, expected to close before year end, required HBC to pay the stores' rent for at least three years, leading one news report to describe it as "Not a clean exit". The liability to HBC for the rents was estimated at {{CAD|77 million}} cash per year.<ref>{{cite press release |title=HBC and Le Tote Enter Into Agreement for Acquisition of Lord + Taylor |date=28 August 2019 |publisher=[[Business Wire]] |url=https://www.businesswire.com/news/home/20190828005408/en/HBC-Le-Tote-Enter-Agreement-Acquisition-Lord |via= |access-date=22 March 2022}}</ref><ref>{{cite news |url=https://business.financialpost.com/news/retail-marketing/not-a-clean-exit-hudsons-bay-sells-lord-taylor-for-133-million |title=Not a 'clean exit': Hudson's Bay sells historic Lord & Taylor for $133 million |work=Financial Post |last=Edmiston |first=Jake |date=28 August 2019 |access-date=22 March 2022}}</ref>