Hudson’s Bay is firing back at one of its biggest lenders.
A new court filing from the defunct department store’s chief financial officer pushes back on the lender’s calls to subject the retailer to more oversight because it allegedly mishandled its liquidation and is hopelessly pursuing a deal to sell 25 of its leases.
In the documents, Michael Culhane says it’s “neither fair nor credible” for Hilco Global to criticize the retailer for “matters that were foreseeable, inevitable and/or, in many instances, driven by or contributed to by Hilco’s own conduct and commercial decisions.”
Financial services firm Hilco owns the Bay’s lead liquidator Hilco Merchant as well as Restore Capital, one of the retailer’s major lenders….