See every side of every news story
Published loading...Updated

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.
Insights by Ground AI
Does this summary seem wrong?

17 Articles

All
Left
6
Center
2
Right
2
Sask TodaySask Today
+6 Reposted by 6 other sources
Lean Left

Canadian Tire bidding on Hudson's Bay assets, sources say

TORONTO — Beleaguered retailer Hudson's Bay has attracted a bid from Canadian Tire, two sources familiar with the sales process say.

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 60% of the sources lean Left
60% Left
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

City News broke the news in Toronto, Canada on Thursday, May 1, 2025.
Sources are mostly out of (0)

You have read out of your 5 free daily articles.

Join us as a member to unlock exclusive access to diverse content.