Headlines

Chicago Lord & Taylor Set to Close

It will not renew its lease on the suburban store when it expires

Published

7 years ago

March 1, 2018

Hudson’s Bay (Toronto) confirmed that it will be closing its third Lord & Taylor store since last fall.

The latest store to shutter is located in suburban Chicago’s Oakbrook Center, and it will close next January when its lease expires. According to The Motley Fool, Oakbrook Center is one of the top malls in the country.

This move follows a push by activist fund Land and Buildings Investment Management (Stamford, Conn.), which has been pushing the company since last year to close and redevelop stores that aren’t profitable. While Hudson's Bay has not confirmed that it is adopting this strategy, it has begun selling some leases and store spaces.

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