Hudson's Bay, Canada's oldest company, announced its plan to potentially liquidate its business in the absence of viable financing. Despite the dire situation affecting over 9,000 jobs across its stores, the company remains hopeful. Hudson's Bay's president Liz Rodbell emphasized the team's dedication to identifying a path forward, bolstered by support from customers and associates. This announcement follows a creditor protection filing by the company, highlighting its financial struggles and urgent need for stakeholder backing to avoid a complete shutdown of its operations.
Hudson's Bay announced it will liquidate unless financing is secured, risking over 9,000 jobs. The department store chain has been a staple since 1670.
Hudson's Bay president Liz Rodbell expressed hope to secure necessary capital and support, emphasizing the emotional connection its stores have with customers.
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