Canadian Tire bidding on Hudson’s Bay assets, sources say
- Canadian Tire has made a bid for Hudson's Bay assets, with the formal bid deadline set at 5 p.m. On Wednesday as part of Hudson's Bay's creditor protection case.
- This sale process came after Hudson's Bay sought legal relief from its creditors earlier this year and started closing numerous stores while looking for potential buyers or investors to sustain the company.
- Multiple parties, including Toronto investment manager Urbana Corp. Targeting intellectual property and billionaire mall owner Weihong Liu bidding on stores, are also competing to acquire Hudson's Bay assets.
- Adam Zalev of Reflect Advisors confirmed that numerous bids are under evaluation, and CEO Thomas Caldwell stated, "Obviously we're investing to make money," stressing long-term holding over quick resale.
- The outcome remains uncertain given 18 unnamed parties showed interest in 65 leases, but Canadian Tire's balance sheet boost from a $1.3 billion Helly Hansen sale could support its bid amid softening consumer spending.
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17 Articles
Canadian Tire Bidding on Hudson’s Bay Assets, Sources Say
Beleaguered retailer Hudson’s Bay has attracted a bid from Canadian Tire, two sources familiar with the sales process say. The sources, who are not being named because they were not authorized to speak about the matter, say the household goods chain has made a bid for some of the faltering department store’s intellectual property. Asked whether the company is making a bid, Canadian Tire did not provide a comment. Anyone interested in owning Huds…


Canadian Tire bidding on Hudson’s Bay’s intellectual property, may include iconic stripes and logos
The source told the Star that the stalwart retailer of automotive and home products has submitted a bid in a sales process that is putting Hudson’s Bay’s leases, real estate and IP up for grabs.
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