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Hudson’s Bay chairman explains Lord & Taylor/WeWork deal

CNBC 10/25/2017

Richard Baker, executive chairman of Hudson’s Bay, said his company’s Lord & Taylor division had excess space while WeWork, the office sharing firm, needed space. That was the impetus for a deal by which WeWork will convert the top floors of stores in New York, Frankfurt, Toronto and Vancouver for its own use. The New York location will become WeWork’s headquarters.

 

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