Clothing rental firm Le Train will acquire department store Lord & Taylor from Hudson 's Bay in a cash deal worth $ 100 m . It has closed several stores, including its flagship on New York's Fifth Avenue, which shut its doors for good this year after more than a century in the 11-story building. The deal is expected to close before the 2015 shopping season and , post - acquisition , Le Tote will extend its clothing rental service to Lord & Taylor customers . As part of the agreement , Hudson Bay will gain a minority stake in Le Train and two board seats .
Clothing rental firm Le Train will acquire department store Lord & Taylor from Hudson 's Bay in a cash deal worth $ 100 m . The deal is expected to close before the 2015 shopping season and , post - acquisition , Le Tote will extend its clothing rental service to Lord & Taylor customers . As part of the agreement , Hudson Bay will gain a minority stake in Le Train and two board seats .