Retailer with 355-year history may close stores amid restructuring

Hudson’s “Bey” company will reorganize the oldest retailer in Canada through such a process of bankruptcy, after paying debts.

The 355-year-old company, operating by Hudson’s Bay Department and Thebay.com, announced the organization of creditors of Canadian companies on Friday.

CCAA allows “insolvent corporations to duty to reorganize their business and financial affairs,” according to the Canadian government website.

The 355-year-old company, which operates in Hudson’s Bay Department and Thebay.com, has announced the organization of the creditors of Canada’s creditors from the Governor Justice of Canada on Friday. (Steve Russell / Toronto Star Getty Images / Getty Images)

According to the trial, he will try to “rebuild his actions, streaming expenses and transform his main strengths,” he said.

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“Our goal is to reaffirm our support and ensure the company’s long-term place in the developing market in the Canadian retail market,” said CEO Liz Rodbel. “When we cross this process, we will continue to find our customers and communities because we always have.”

The retailer Physical footprint Includes Hudson’s Bay 8 stores. It also operates more than a fifth Avenue stores of 3 Saxies in Canada 5th stores through a licensing agreement, places that will continue to serve customers according to the Gulf of Hudson.

Rodbel said that the company “worked with possible investors to refinance our liquidity of our credit facilities” and “War of War” may affect our ability to make transactions.

Commercial relationships There were liquid between the United States and Canada in recent weeks.

President Donald Trump left and left for Canadian Prime Minister Justin Daudi in December 2019 in Watford, England. (DAN KITWOOD / Getty Images / Getty Images)

On March 4, President Donald Trump carried out 25% tariffs from Canada, March 4, after the suspension of the month, prompting the response. Later the week, he made exceptions to Canada on the United States-Mexico-Canada Agreement until early April.

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Hudson’s bosom also said that and Other Canadian retail The “post-communication shifts” and “excitement” coverage consumer costs in the retail industry are found in the expenses of live, mortgage rates and other economic factors.

According to the company, it received $ 16 million worth of $ 16 million CAD.

Hudson’s bosom looks at the “strategic alternatives” and to have a possible solutions to “study and maintain its business”, “he said.

Hudson’s bosom looks at the “strategic alternatives” and to have a possible solutions to “study and maintain its business”, “he said. (Pavlo Gonchar / Sopa Images / Lightrockets Vitty Images / Getty Images)

The company described himself a Court request As “the oldest company in North America” ​​and the “most famous department of Canada”.

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The company starts from 1670 when the King of England became the only trade and trade, in the end, according to the court’s performance, it became parts of Saskakatyan, Alabavut, Ontario and Quebec.

According to a lawsuit, Hudson’s bosom works more than 9,300 people.