Like many retailers, Hudson`s Bay has been struggling to stay afloat amid the shifting retail landscape, but this deal could prove beneficial. WeWork and HBC agreed to a landmark deal that included the sale of Lord & Taylor’s Manhattan flagship for $850M to a joint venture of WeWork and Rhône Tuesday morning. As part of the agreement, Rhône will invest $500M into shares in Hudson`s Bay, some of which will eventually transfer to the JV, called WeWork Property Advisors. The deal also calls for WeWork to convert the top floors of several of Hudson Bay`s 480 department stores into office space, the New York Post reports... ...moreRSK: Love re-purposing and We Work is great at it. Retail is morphing my friends. | ||
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