The company says it has been facing significant pressures, including subdued consumer spending, U.S. trade tensions and post-pandemic drops in downtown store traffic.
What is the future of the iconic Hudson's Bay department store in downtown Vancouver? Two years ago the company announced plans to redevelop the historic building into a mixed-use project, but so far there's been silence about whether or not the plan is moving ahead.
Through a licensing agreement, it also owns three Saks Fifth Avenue stores and 13 Saks Off 5th locations in Canada, which will continue to operate. Saks Global, which owns U.S. Saks locations as well as Neiman Marcus and Bergdorf Goodman stores is not connected to the creditor protection filing.Trump says U.S. will target new tariffs on Canadian dairy, lumber in days
Hudson’s Bay said it was exploring several strategic options to strengthen its business and said it would not make promises but was committed to preserving jobs where possible.The company spent the last several years in a state of deterioration as it closed several stores and carried out several rounds of layoffs, citing challenging headwinds.Did you know you can claim all of these medical expenses on your taxes?Feds pledge $5B to help Canadian businesses amid U.S.
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