Hudson's Bay Files for Bankruptcy
This is a Canada news story, published by financialpost, that relates primarily to Hudson’s Bay news.
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•Business
Business & Economics
Hudson's Bay files for creditor protection, plans to restructure business
70% Informative
Canada 's oldest retailer, Hudson’s Bay , has filed for creditor protection and intends to restructure the business.
The department store company that dates back to 1670 announced the move Friday evening .
The company said it has been facing “significant” pressures, including subdued consumer spending, trade tensions between the U.S. and Canada .
The process can lead to the sale or closure of a business.
Some Neiman Marcus staff were laid off last week as the company prepared to consolidate its U.S. office space and cut the banner’s Dallas flagship.
Simons, the 185-year-old dry-goods-shop-turned-department-store-chain, is in growth mode with a $75-million expansion plan.
VR Score
73
Informative language
72
Neutral language
42
Article tone
formal
Language
English
Language complexity
56
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
8
Source diversity
5