Hudson's Bay Company filed for creditor protection, indicating severe financial difficulties that could lead to its sale or closure. Retail experts cite long-standing issues, including store disarray and a failing shopping experience as contributing factors. The company's restructuring plan may result in the closure of several stores, with 40 out of 80 locations at risk. Customers can still shop but cannot redeem or earn reward points as the company navigates its challenges. Stakeholders have begun taking action due to unpaid debts, including attempts to seize merchandise.
"The brand is not in good condition and the reasons for that go back decades. This is not something that has happened in the last few years."
"The company's restructuring plan includes closing some stores and downsizing its operations. So where does that leave customers with outstanding gift cards or rewards points?"
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