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A full liquidation plan at Canada’s oldest company could begin as soon as Tuesday and last for up to 12 weeks, but Hudson’s Bay is still holding out hope that it will find a lifeline. Lawyers for the beleaguered retailer said in an Ontario court Monday morning that if approvedContinue Reading
Business Forever 21’s U.S. operator on Sunday filed for bankruptcy for the second time in six years and said it would wind down operations in the country, hurt by mounting online competition in the fast-fashion sector and weak mall traffic. U.S. stores will likely liquidate but stores in Canada andContinue Reading
Business Small businesses that import good from the U.S. may be impacted by Canada’s counter-tariffs. Even so, a survey done by an independent business lobby group found that many of its members support them. 75% of independent businesses surveyed said they support Canada’s retaliatory tariffs Sophia Harris · CBC News ·Continue Reading
Business A closure of the entire business would mean job losses for 9,364 employees the company has in Canada across its Hudson’s Bay stores, as well as three Saks Fifth Avenue stores and 13 Saks Off 5th locations it owns through a licensing agreement. Canada’s oldest company seeking capital neededContinue Reading
Business Hudson’s Bay Company is nearly a billion dollars in debt, according to court filings that paint a dire portrait of the struggling Canadian department store chain’s finances. Company owes $950M to creditors including Estée Lauder, Nike Canada, Ralph Lauren Jenna Benchetrit · CBC News · Posted: Mar 14, 2025Continue Reading
Business For now, you can still shop at Hudson’s Bay, both in stores and online. But a few things have changed, and the company’s future is still up in the air. Here’s what you need to know. Company has paused its rewards program, so shoppers can’t redeem or earn pointsContinue Reading
Business The company that made the hit mobile-phone game Pokemon Go is getting out of the mobile gaming business. Niantic, which created Pokemon Go, wasn’t able to create another mobile game hitThomson Reuters · Posted: Mar 12, 2025 1:35 PM EDT | Last Updated: March 12 John Hanke, creator ofContinue Reading
Business The Bank of Canada has cut its overnight lending rate by 25 basis points to 2.75 per cent, it announced on Wednesday, as an ongoing trade war with the U.S. begins to strain the Canadian economy. Governor says tariff impact could be severe, but stops short of crying recession JennaContinue Reading
Business Canada’s major food retailers have all rolled out new marketing strategies in recent weeks to meet a newfound demand for Canadian products. With price hikes in play, they’re betting on a reputational reset after years of contention between shoppers and consumers came to a boiling point last year. LoblawsContinue Reading
While Elon Musk is certainly not in any danger of struggling to make ends meet, his wealth has taken a major hit over the past few months. Just recently, for example, Musk lost $29 billion US in a single day after shares of Tesla, his electric vehicle manufacturer, tumbled by 15 per centContinue Reading
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