Retail and bankruptcy experts are hoping Hudson’s Bay will close some of its stores as it will be restructured through creditor protection.
The department store chain, dating back to 1670, has not announced plans to close the location, but Dina Kovacevic, editor of Insider Newsletter, says it’s not uncommon for creditors to take such a step.
Kovacevic says it’s likely Hudson Bay, and his advisors will understand which of the 80 stores are less profitable, liquidate them and provide breathing chambers in places with higher performance.
Liza Amlani, co-founder of Retail Strategy Group, agrees that the closure may be ongoing and warns that he will spell out a layoff for workers at Hudson’s Bay, Canada’s oldest company.
If that process is unfolded, Amrani says shoppers will notice liquidation sales.
Hudson Bay believed it filed creditor protection on Friday to curtail consumer spending, trade tensions between the US and Canada, and lower total processes in traffic at downtown stores.
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