Hudson's Bay Store Closure Nears

This is a Ontario news story, published by vancouversun, that relates primarily to Hudson’s Bay news.

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Entertainment

Curious bargain hunters see empty display cases, low stock at Langley Hudson's Bay

Summary

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65% Informative

Hudson’s Bay lawyers spent Monday in an Ontario court asking for permission to begin a liquidation of all of its 80 stores.

The retailer is still holding out hope for a lifeline and getting enough financing that would allow it to remove some stores from the liquidation process.

The company plans to stop accepting gift cards after April 6 and has already paused its loyalty program, with about $58.5 million in unused points.

The company has been owned by American -based National Realty and Development Corp. Equity Partners since 2008 .

The company admitted things were so bad, that it had deferred some payments to landlords, service providers and vendors.

Retail experts also point to the company’s lack of investment in its bricks-and-mortar stores.

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity