Hudson’s Bay Co., parent of Lord & Taylor and The Bay in Canada, has postponed plans for an IPO.
The company had planned to offer to the public 20 percent of the firm’s stock at the end of this month and be listed on the Toronto Stock Exchange. Executives began putting the plan in place as early as May, when it initiated discussions with Canadian bankers. But an IPO would have required a road show 30 days prior to the listing that would last about one week. That road show never materialized, according to sources.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"