The Hudson’s Bay Company has struck a deal with fashion rental chain Le Tote that will see HBC sell its Lord & Taylor unit to Le Tote for $100M US. Under the terms of the deal announced Wednesday morning, Le Tote will get the Lord & Taylor brand name and control of all 38 of the chain’s luxury department stores from HBC, along with all the inventory of clothing and other items. HBC, meanwhile, will retain control of all the real estate assets that Lord & Taylor stores are sitting on. CBC
