Hudson’s Bay, Canada’s oldest retailer, faces financial crisis
In a moment when more people are looking to buy Canadian, Canada’s oldest retailer is facing a financial crisis. Last week, Hudson’s Bay was granted creditor protection. Court documents showed that last year, the company recorded a loss of nearly $330 million, and that they were within days of not being able to pay their staff. Now, they’re working on a restructuring plan that could include closing half of its 80 stores. Today, Susan Krashinsky Robertson, the Globe’s retailing reporter, is here to discuss where things went wrong for Hudson’s Bay, how restructuring could affect employees and customers, and what place the company holds in the Canadian imagination after 355 years.
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Show Notes
In a moment when more people are looking to buy Canadian, Canada’s oldest retailer is facing a financial crisis. Last week, Hudson’s Bay was granted creditor protection. Court documents showed that last year, the company recorded a loss of nearly $330 million, and that they were within days of not being able to pay their staff. Now, they’re working on a restructuring plan that could include closing half of its 80 stores.
Today, Susan Krashinsky Robertson, the Globe’s retailing reporter, is here to discuss where things went wrong for Hudson’s Bay, how restructuring could affect employees and customers, and what place the company holds in the Canadian imagination after 355 years.
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