Hudson’s Bay is located in the Limbo after submitting creditors. Here’s what you need to know star-news.press/wp

Hudson’s Bay Company presented Hudson protection last week. Landlords saying that the seller and employee is fighting to pay, and is a process that can lead to the sale or closure of the oldest Canadian company.

Retail experts have said that the writ has been on the wall for several years, some of the waste shops, with a purchase experience, enclosed various locations and established by many employees.

“The brand is not in good condition and the reasons that go back in decades. It’s not something that happened in recent years,” Doug Stephens said, which is the General Manager of the Retail Prophet.

Company’s Restructuring plan It includes closing some stores and reducing its operations. So where does customers leave gift cards or reward points?

For now, you can still buy in Hudson’s Bay, both in stores and online. But some things have changed, and the company’s future is still in the air. Here’s what you need to know.

Stores are still open but closure could come

If there were certain physical locations – they could end up in the end. If you enter the store, you will notice significant sales and markings as the company tries to clean the inventory.

There is no decision to the Store closure, a spokesperson company told CBC News. The bay is considering that its 40 closure of 80 stores, according to Canadian press.

Meanwhile, some agents are against the bay for the payments already lost.

Sydney tried to enter a store in the NS, NS, in Last week, because the company was left behind, in Etobicoke Sherway Garden malls, in Etobicoke, according to the company, according to the company. Court archive.

Gift cards, yes; Award program, no

Customers cannot exchange points or win, because the company’s awards program interrupts, a spokesman for Hudson’s Bay told CBC News.

So if you have a remarkable point on the prize card, you will have to hang it for now. And if your account has not seen an activity in 24 months, the points could already expire, the court’s archives.

From February 1, more than eight million customers cost $ 58.5 million.

Clock Creditor protection fountain files:

Hudson’s Bay Files Protection of Creditors

For centuries, the oldest Canadian store Hudson’s Bay has received to financially maintain the protection of creditors, when sales reduces the hardener’s hard competition and Canada-US trading tensions.

A notice of the company’s website also adds to or accumulate or stack points in purchases during the program “and apply retroactively”.

Buyers can still use existing gift cards, “They are directly bouncing until the company failed,” Boutet said. But they can’t buy new business because the business does not sell.

What about after?

The bay prescribed the protection of creditors through the Court of Justice on the Ontario, which will be decided on Monday, if the company may ensure the financing it needs or closed the goods, to pay the money it owed.

“The first steps for them will try to cleanse the balance. They will try to rise sharp,” Stephens said.

If shops close, 9,000 employees will also be established. It will have fewer leases to pay and you are likely to re-negotiate existing.

Clock How can Hudson’s Bay appear?

How should Hudson’s Bay company be reinvented?

The oldest sellers of Canada, the oldest store operating in Hudson’s Bay department stores, has been looking for creditors to be protected on Friday, but wants to maintain its significant places. David Ian Gray Retail strategist said the scale scaling and exploring the lines of their products could be the option of the department store chain.

But relieving debt alone is not enough to solve the problems of the bay, Stephens said. “If they will revive the bay to become an old bay, which will not lead, especially young consumers towards their door.”

“They really need to reapplace the whole experience from the ground,” he said. “What could they do in these stores in food, entertainment, social commitment, people drawing things in their stores in their stores and breathing a new brand? That is what they need to do.”

“Buy Canada” Reuse

Despite the accounting history of Canada, Hudson’s Bay bought an American investment company, a NRDC equity parner in 2008.

Boutet said Hudson’s Bay is not permanent in its current format. It is the scenario of the best case “that someone gets a brand and much focused, buying a kind of Canada angle. In smaller retail format,” he said.

Some important relief (or their Canadian footprints) have found significant challenges or have been closed in recent years, including Sears, Nordstrom, Target and JCpenney. An outlier is Montreal’s Simons, since Pandemia spread everything.

“Department shops in general – There are some pockets in Europe and Asia when they still work, but the format doesn’t work anymore,” said Boutet.