Source: International Business Times
Hudson's Bay branded products with the company's iconic red, green yellow and blue stripes on display at its Toronto store in September 2018 AFP From the 17th century fur trade that birthed a nation to the last major department store in Canada, The Hudson's Bay Company has left an indelible mark, but its storied 354 years are crashing to an end. Canada's oldest company -- after filing on March 7 for protection from the creditors that are owed more than Can$1 billion (US$700 million) -- has received court approval to close all but six of its 80 stores. The US-based private equity owners of the company, who acquired it in 2008, will also shutter three Saks Fifth Avenue and 13 Saks Off 5th locations it operates through a licensing agreement.
