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 .
Clothing rental firm Le Tote will acquire department store Lord & Taylor from Hudson's Bay in a cash deal worth $100m. The deal is expected to close before the Christmas 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 Tote and two board seats.