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Hudson’s Bay to liquidate entire business, still seeking additional capital

  • Hudson’s Bay plans an immediate liquidation starting next week due to its inability to secure financing, with a completion aimed for June 15.
  • A liquidation would lead to job losses for 9,364 employees across Hudson’s Bay and its subsidiaries, pending court approval.
  • The company's financial struggles stem from subdued consumer spending and owing over $950 million to creditors, according to Hudson’s Bay's filings.
  • Hudson’s Bay remains optimistic about securing necessary support, with Liz Rodbell emphasizing the importance of community support and landlord partnerships.
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123 Articles

Lean Right

This company, created in 1670 by two French trappers, became a luxury distribution chain, did not adapt to the evolution of the market. Its nearly 10,000 employees should be dismissed.

·Paris, France
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Guelph MercuryGuelph Mercury
+6 Reposted by 6 other sources
Lean Left

RioCan calls Hudson’s Bay creditor filing ‘disappointing’ and vows to protect its interests

RioCan says it remains committed “to protecting the interests of its Unitholders and other stakeholders” as Hudson's Bay awaits word on whether it can begin liquidating all 96 of its Canadian stores.

·Guelph, Canada
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Bias Distribution

  • 68% of the sources lean Left
68% Left

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Daily Hive broke the news in Canada on Friday, November 29, 2024.
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