More coming. Companies in this story: (TSX:HBC) TORONTO — Hudson’s Bay Co. has signed a deal to sell its Lord and Taylor banner to Le Tote, a clothing subscription and rental business.Under the deal, HBC will receive $99.5 million in cash when the deal closes and a secured promissory note for $33.2 million payable in cash after two years.HBC will also receive an equity stake in Le Tote, two seats on the company’s board of directors and certain rights as a minority shareholder.Le Tote will acquire the Lord and Taylor brand and related intellectual property and assume operations of 38 stores, its digital channels and the associated inventory. The Canadian Press

NewsAlert HBC signs deal to sell Lord and Taylor banner to Le
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