How much is Saks flagship store worth? $2.7 billion less than it was 5 years ago, says new appraisal

Hudson’s Bay Co.’s real estate holdings — once considered the brightest spot in a sagging department store empire — are worth a fraction of previous estimates, according to new appraisals released Tuesday as part of a bid to take the company private. The documents suggest the value of HBC’s real estate has fallen from $35.24 […]