Arab Canada News
News
Published: March 8, 2025
Hudson’s Bay, one of the oldest retail chains in Canada, announced that it has filed for creditor protection under the Companies' Creditors Arrangement Act (CCAA) in order to restructure its operations in the face of market challenges.
The company is facing financial difficulties due to declining sales, increased competition, and changing consumer behaviors.
The restructuring plan includes reducing the number of stores, enhancing e-commerce, and modifying marketing strategies.
The company also confirmed that all stores will continue to operate normally during the protection proceedings.
Saturday, 05 July 2025
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