US EditionHudson’s Bay garnered 17 bids in process to find new owner for retailer, assets: docs
- Hudson's Bay Company, a 355-year-old Canadian retailer, received 17 bids in its current sale process as it liquidates all stores after announcing closures last month.
- The sale process followed Hudson's Bay seeking creditor protection and involved reaching out to 407 potential buyers, with 54 signing NDAs to access data for bidding decisions.
- Bidders vary, with some aiming to run stores and others seeking brand rights, including assets like the Stripes motif, Zellers, Gluckstein, Hudson North, and Distinctly Home.
- B.C. Mall owner Weihong Liu publicly bid to run 25 Bay stores, while Toronto’s Urbana Corp. Seeks only the intellectual property; Canadian Tire also shows interest but finds full acquisition unsuitable.
- Hudson's Bay aims to finalize bids by mid-May, hold a possible auction by May 16, seek court approvals by May 30, and continue liquidation sales into June, creating market gaps in some Canadian communities.
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Hudson’s Bay receives 17 bids for some of its leases, IP and real estate
Hudson’s Bay has received 17 bids in the beleaguered retailer’s sales process in which its leases, intellectual property and real estate are up for grabs, according to a court document filed on Friday.
·Toronto, Canada
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Hudson’s Bay Garnered 17 Bids in Process to Find New Owner for Retailer, Assets: Docs
A new court filing shows a process meant to find a new owner for Hudson’s Bay and its assets has yielded 17 bids. A report from a court monitor guiding Canada’s oldest company through creditor protection does not name the bidders but says they made offers after the monitor reached out to 407 potential buyers. Fifty-four of the 407 signed a non-disclosure agreement to get access to Bay data to decide whether to place a binding bid, but less than …
·New York, United States
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Leaning Left2Leaning Right1Center5Last UpdatedBias Distribution63% Center
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