Hudson's Bay news and archive

Hudson’s Bay to reportedly lay off over 8,300 employees as stores shutter

Canadian retailer Hudson’s Bay is believed to be laying off 8,347 employees as it comes close to finalising its store closures. According to documents seen by Reuters, around 89 percent of the company’s workforce will be laid off once it concludes its liquidation sale and store closures this Sunday, June 1. Among the remaining 1,017 employees,...

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Hudson’s Bay plans to sell 28 store leases to Chinese investor

Canadian department store chain Hudson’s Bay is believed to be eyeing the sale of up to 28 of its store leases to a Chinese investor who wishes to build “a new modern department store”. In a press release seen by multiple media outlets, including CBC, it is said that Hudson’s Bay will seek court permission to sell a group of properties to Ruby...

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Hudson’s Bay intellectual property acquired for 30 million dollars

The intellectual property of Canadian retailer Hudson’s Bay Company (HBC) has been snapped up in an acquisition deal amounting to 30 million Canadian dollars (21.5 million US dollars). The move has been made by Canadian Tire Corporation (CTC), which announced that it had entered into a definitive agreement to secure the HBC Stripes – the stripe...

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Hudson’s Bay to liquidate remaining seven stores

Department store group Hudson’s Bay Company has confirmed that it plans to liquidate its remaining six own brand stores and one Saks Fifth Avenue location. The company deduced that a viable bid for the six-store model was now “unlikely”. From April 25, the remaining stores will therefore join 73 Hudson’s Bay sites, 13 Saks Off 5th locations and...

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Hudson's Bay moves towards liquidation due to financial challenges

Canadian retail group Hudson's Bay Company, North America's oldest corporation, which includes retail company Hudson’s Bay, comprising 80 stores and TheBay.com, will begin a store-by-store liquidation process as early as this week after failing to secure sufficient financing to proceed with a restructuring plan. The Toronto-based department...

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Hudson’s Bay seeks bankruptcy protection amid financial challenges

Hudson’s Bay, Canada’s oldest retailer, has filed for creditor protection as it moves to restructure its operations in response to mounting financial pressures. The department store chain, founded in 1670, cited economic headwinds, post-pandemic shifts in shopping patterns, and trade tensions with the U.S. as key factors behind its decision. The...

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Ann Taylor and Loft return to Canada through Centric Brands partnership

KnitWell Group brands Ann Taylor and Loft have struck up a new agreement with Centric Brands that will see them make a return to Canada through exclusive retail partner, Hudson’s Bay. The womenswear labels exited the region in 2020 after their former parent company, Ascena, filed for bankruptcy in the US. Now under new ownership, Ann Taylor and...

Fashion |Beauty

Naomi Watts’s Stripes Beauty to launch in Canada

The beauty and wellness brand Stripes Beauty, launched by actress Naomi Watts in 2022 and acquired in June by investment firm L Catterton, is expanding into Canada. Stripes Beauty is a pro-ageing wellness and beauty brand aiming to eliminate the stigma, shame and anxiety often associated with menopause while offering science-backed vaginal...

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Hudson’s Bay officially confirms Neiman Marcus takeover

Following a slew of media reports on the matter, Hudson’s Bay Company (HBC) has officially confirmed its acquisition of Neiman Marcus Group (NMG), the parent company of Neiman Marcus and Bergdorf Goodman. The long-anticipated transaction amounted to 2.56 billion dollars, and will result in the establishment of Saks Global, a combined portfolio...

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Saks parent company acquires Neiman Marcus, Amazon to be investor

In what has been a long-winded back-and-forth that has spanned multiple years, it is now believed that department store powerhouses Saks Fifth Avenue and Neiman Marcus Group are finally set to merge. According to multiple media reports, Saks parent company Hudson’s Bay Co. (HBC) has secured an agreement to purchase Neiman Marcus Group for a...

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Hudson's Bay owner and BB Kapital snap up German department store Galeria

NRDC Equity Partners, the New York-based parent company of Hudson’s Bay, and BB Kapital SA, the investment firm of businessman Bernd Beetz’s family, have come together to acquire German department store firm Galeria Karstadt Kaufhof GmbH. The consortium have joined hands as part of Galeria’s insolvency plan, with the company’s administrator...

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Hudson’s Bay officially goes fur-free

Department store chain company Hudson’s Bay has finally gone fur free after being subject to years of pressure from the People for the Ethical Treatment of Animals (PETA). The Canadian group, which operates a series of luxury retailers, including Saks Fifth Avenue, and online platform ‘The Bay’, will implement the move throughout its entire...