SaksWorks is an American

coworking Coworking is an arrangement in which workers for different companies share an office space. It allows cost savings and convenience through the use of common infrastructures, such as equipment, utilities and receptionist and custodial services, a ...

space provider and sister brand to the

Saks Fifth Avenue Saks Fifth Avenue (originally Saks & Company; colloquially Saks) is an American luxury department store chain headquartered in New York City and founded by Andrew Saks. The original store opened in the F Street shopping district of Washing ...

department store chain, both of which are based in

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the U ...

and owned by

Hudson's Bay Company The Hudson's Bay Company (HBC; french: Compagnie de la Baie d'Hudson) is a Canadian retail business group. A fur trade, fur trading business for much of its existence, HBC now owns and operates retail stores in Canada. The company's namesake b ...

(HBC). The concept was conceived amid the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identified ...

to redevelop the former

Lord & Taylor Lord & Taylor was the oldest brick and mortar department store in the United States, in business from 1826 to 2020. The brand was purchased during former owner Le Tote's 2020 liquidation bankruptcy and relaunched by new owner, Saadia Group, as a ...

brick-and-mortar locations. The first SaksWorks facilities opened within the

New York metropolitan area The New York metropolitan area, also commonly referred to as the Tri-State area, is the largest metropolitan area in the world by urban landmass, at , and one of the most populous urban agglomerations in the world. The vast metropolitan area ...

in September 2021.

History

Hudson's Bay Company acquired the

department store chain in January 2012, and later sold it to clothing rental company Le Tote in August 2019. HBC retained ownership of the commercial properties, and expressed initial plans to maintain Lord & Taylor operations with the real estate until at least 2021. HBC announced their coworking space venture as York Factory in October 2020.

References

External links

{{Hudson's Bay Company Coworking space providers Hudson's Bay Company Saks Fifth Avenue 2021 establishments in New York City