page_title: Lord & Taylor
section_title: Ownership by Hudson's Bay Company
hierarchical_section_title: Lord & Taylor / Ownership by Hudson's Bay Company
caption_attribution_description: English: Quaker Bridge Mall Lawrenceville, NJ
context_page_description: Lord & Taylor is a soon to be defunct American department store chain, and the oldest department store in the United States. As of August 2019, it had 38 stores and one outlet store. The flagship store at the Lord & Taylor Building on Fifth Avenue in New York City operated from 1914 until 2019. The chain has been a subsidiary of Le Tote since November 2019. Lord & Taylor along with parent company Le Tote filed for Chapter 11 bankruptcy protection on August 2, 2020, and on August 27, 2020, it was announced that Lord & Taylor would be going out of business.
context_section_description: On July 16, 2008, NRDC Equity Partners announced that it had purchased the 338-year-old Hudson's Bay Company (HBC) for an undisclosed price, with the intention of expanding internationally, and positioned Lord & Taylor under HBC. The combined HBC, as of February 2018, consisted of Hudson's Bay and Home Outfitters in Canada, Galeria Kaufhof in Germany, and Lord & Taylor and Saks Fifth Avenue in the United States.
  HBC committed to spend an additional $250 million upgrading stores. The Fifth Avenue flagship store received a $150 million update in 2010. In March 2017, Lord & Taylor partnered with Brideside to launch an in-store bridal shop. In April 2017, Lord & Taylor completed a $12 million renovation plan at the Fifth Avenue store, however in October 2017 they announced that they were selling the building to WeWork for $850 million. In February 2019 the sale completed for $725 million in cash and the remainder in equity, forming a joint venture with Lord & Taylor was minority owners.
  On April 1, 2018, the Hudson Bay Company gave notice of a theft of customers credit and debit cards due to a hacking incident. A hacking group, known as JokerStash or Fin7, was attempting to sell the information from five million stolen customer credentials on dark web sites during the last week of March 2018. The company noted that the majority of the compromised records appeared to be from Lord & Taylor and Saks Fifth Avenue customers. The Hudson Bay Company noted that customers would not be liable for any charges incurred due to his breach and they will offer no cost credit report monitoring and identity protection services.
  In May 2018, Walmart began carrying Lord & Taylor products on their website. A few weeks later, HBC announced they would be closing up to ten Lord & Taylor stores, including the 5th Avenue location, amid declining store sales. The New York flagship store closed on January 2, 2019.
  Industry observers connected the closures and the sale of the flagship store to intense competition from online retailers and high debt at HBC. Lord & Taylor announced additional closings in Oakbrook Center, Monmouth Mall, Gaithersburg, and Sterling Heights.
caption: Mall entrances of the Lord & Taylor store at the Quaker Bridge Mall in Lawrence Township, New Jersey (2013)
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