Hudson's Bay Co. liquidates
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•Business
Business & Economics
HBC, North America’s oldest firm, meets its end. Some argue its fate was avoidable
78% Informative
Hudson’s Bay Co. ULC is being stripped for parts.
The retailer had devised a plan to rescue six of its 96 stores from liquidation.
The company was doomed after the COVID-19 pandemic hit, according to one person with detailed knowledge of HBC .
People with knowledge of the matter say the retailer erred by waiting too long to restructure.
Baker said in March 2023 that the department store chain comprised “a teeny weeny, tiny bit” of the parent company’s overall value.
Baker announced in July 2024 that he’d struck a deal to acquire Neiman Marcus Group for $2.7 billion .
Employees aired their concerns about the quote in a town hall, but Baker didn’t directly answer questions or try to alleviate concerns.
VR Score
77
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51
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English
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55
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short-lived
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7
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