Hudson's Bay Liquidates Six Stores

This is a news story, published by financialpost, that relates primarily to HBC news.

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liquidation

financialpost

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Business

Business & Economics

In the absence of a viable bid, Hudson's Bay plans to begin liquidating remaining six stores

Summary

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62% Informative

HBC started liquidating 90 of its 96 stores last month , but it hoped to attract bids to keep its footprint alive through a “ six -store model” The move seems to be negatively impacting the company’s ongoing efforts to raise roughly $1 billion it needs to pay back creditors.

HBC will still have the ability to stop liquidating these stores or any of its other stores if it receives a viable bid.

“It would be best if ( HBC ) actually just donated the charter to Library Archives Canada ,” he said. “But I can understand how the legalities and the context of the company going bankrupt are leading it to send something to auction.” Email: [email protected].

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful