Canada’s Hudson’s Bay Forced to Liquidate Unless Last-Minute Financing Can Be Found
North America's oldest corporation has struggled through decades of roller coaster business trends, management changes and repositionings.
Hudson's Bay to liquidate entire business, still seeking additional capital
Despite holding out hope it can avoid a full shutdown, Hudson's Bay says it is planning an "immediate" liquidation that would begin next week and wrap up in June. In a late Friday announcement, Canada's oldest company said it couldn't secure the necessary financing to keep at least some of its empire alive.
Customers flock to Hudson’s Bay ahead of liquidation sales
Corey Gordon was stunned when he opened his news app and saw Hudson’s Bay Co. was in trouble. “I’m really grieving right now,” he said Saturday at the company’s St. Vital Centre location. “I
Hudson’s Bay Co. may be forced to close all stores
The company announced late on Friday that it has been able to secure only limited financing ‘that will require the full liquidation of the entire business’
Hudson's Bay says it will liquidate entire business if no financing can be secured
A closure of the entire business would mean job losses for 9,364 employees the company has in Canada across its Hudson's Bay stores, as well as three Saks Fifth Avenue stores and 13 Saks Off 5th locations it owns through a licensing agreement.
Hudson’s Bay plans ‘immediate’ liquidation of entire business
Despite holding out hope it can avoid a full shutdown, Hudson’s Bay says it is planning an “immediate” liquidation that would begin next week and wrap up in June. The company said it remains optimistic it can drum up capital and find a solution with key stakeholders,
Hudson’s Bay to liquidate entire business as it continues to seek additional capital
Hudson’s Bay laid the groundwork for its creditor protection case when it spun its U.S. Saks locations off into a separate entity last year after it purchased luxury department stores Neiman Marcus and Bergdorf Goodman, essentially saving them from the impending closures now set to engulf HBC in Canada.
Hudson's Bay to Undergo Full Liquidation Unless an Alternative Solution Emerges
A store-by-store liquidation process will begin as soon as next week. The Company remains hopeful that key stakeholders, particularly its landlord partners, will engage to explore a viable alternative restructuring path that could preserve jobs,
Calgary Herald on MSN34m
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The Canadian Press on MSN2h
Lack of store investment, underlying issues led Hudson's Bay to 'slow death': experts
Analysts say the planned liquidation of Hudson's Bay will leave a hole in the country's retail landscape, as Canada's oldest ...
Hudson's Bay owes almost $1M on Island; mall operator biggest creditor
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Hudson's Bay Company nearly $1B in debt, with court filings painting dire financial portrait
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Court documents reveal Hudson’s Bay owes $950 million to landlords, fashion brands, banks and government
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