Hudson's Bay, the oldest retailer in Canada, is facing severe financial difficulties and has entered creditor protection, akin to bankruptcy. This historic department store, dating back to the 17th century, has lost customers and revenue due to the pandemic, inflation, and further challenges from current U.S. trade relations. CEO Liz Rodbell emphasized that these trade tensions have created market uncertainty that hindered their investment efforts. Following this decision, a Toronto judge recognized its historic significance but noted its current insolvency as a poignant chapter in the store's long history.
"The threat and realization of a trade war has created significant market uncertainty and has impacted our ability to complete these transactions," CEO Liz Rodbell said.
"It is hard not to have a sense of melancholy when considering the Application before me," wrote Justice Peter J. Osborne, reflecting on the chain's storied history.
Collection
[
|
...
]