Hudson Bay company returned on Monday Monday to request permission to settle all his activities, they could jeopardize the future of the oldest vendor in the country and more than 9,300 jobs. This process could start this week and be extended until mid-June.
At the end of an entire audition, the Judge Peter J. Osborne decided to delay his decision until at least Tuesday afternoon, to solve some litigation on trade proposal.
Ashley Taylor said the company’s Court of Justice said in 80 stores in Stores, as well as three Saks fifth Avenue, Canada, which maintains the company as part of a license agreement.
Launch of the quick settlement process will maximize the value of the company (…) and keeps any restructuring option
He said the lawyers in a Toronto Court.
Mr. Taylor says that the company intends to start this difficult process as soon as you get permission, even if you always intend to avoid full closure.
Jacaudrey Charbonneau report
The bay said Friday evening could not be necessary to maintain the necessary funding for at least one part of his activities. When the company put it under the protection of his creditors on March 7, he intended to keep half of his shops.
The attitators of the outlet said the bay in recent days has tried about twenty borrowers to achieve emergency funding. These attempts allowed to achieve a single $ 23 million offer, much less than necessary.
The outlet owes almost 950 million to his creditors, according to documents submitted in the courts.
Complete settlement proposals, the company would have the opportunity to remove certain stores from the process, if it finds additional funding for 10 to 12 weeks, Mr. Taylor will get the company’s removal.
Elizabeth Pillon, another lawyer in Hudson’s Bay, has added that the proposed settlement will be extended to the company’s e-commerce activities, east of Toronto, in the east of Toronto.
Gift cards soon
Hudson’s Bay plans to accept gift cards from April 6. The company has already interrupted the loyalty program, has 8.2 million members and has used 58.5 million points.
Ontario can withstand the largest closure: The company has more than 32 branches and more than half of the staff in this province.
One day there would be sad this Canadian flag to close the doors, James Vanveen, Launches a Callary customer. If there is another way to avoid having to close everything, I want.
The store reported that the store said his difficulties were related to the weakness of consumer expenses, the decline in store tensions between the United States and Canada after the pandem.
With the Canadian press and CBC information
2025-03-17 21:28:00
