Why Gilt Groupe Is Forced To Sell, Either To Saks’ Parent Company Or Someone Else

Gilt Groupe is likely in its last days or months as a standalone company, and the story of why is about two things: The market it bet on and its failed business expansion. The company is in talks to sell to Hudson’s Bay Company, the parent company of Saks Fifth Avenue and Lord & Taylor, according to two sources. While the talks are serious, one person cautioned that another buyer could emerge to acquire the company instead. The Wall Street Journal first reported the possibility of the sale for $250 million, less than what Gilt raised from investors and about a quarter of its one-time private valuation. Read more at Re/code.