Retail and insolvency experts expect Hudson’s Bay will close some of its stores as it restructures through creditor protection.
While the department store chain dating back to 1670 hasn’t announced plans to shutter locations, Insolvency Insider newsletter editor Dina Kovacevic says it’s not unusual for retailers under creditor protection to take such a step.
Kovacevic says it is likely Hudson’s Bay and its advisers will figure out which of its 80 stores are least profitable and work to liquidate them, providing some breathing room to the higher performing locations.
Liza Amlani, the co-founder of the Retail Strategy Group, agrees closures could be on their way and warns that would spell layoffs for workers at Hudson’s Bay, which is Canada’s oldest company….