The department store chain, founded in 1670, can't pay its debts and says the pandemic, inflation and now trade tensions have hurt its financial future.
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Think of the small, family- owned businesses that will be wiped out. Years of work to build up. They will not return. How many were lost to the pandemic? How many were lost due to the geed and corruption of the larger businesses. They did not fail. They have been snuffed out.
It took 19 years in US ownership to kill a Canadian institution. US executives don't understand Canadian culture and how Canadians shop. Doubts? Look at how long Target survived in Canada.
The stores are filthy and outdated and have been for many many many years and ever since the 🇺🇸 took over and sucked all the profits out to pay their shareholders. Used to have a vibrant buying office and was the ‘go to’ place to shop for designer gear or a winter coat etc. Losing an icon 🛶 🍁 🇨🇦
I wonder how much the CEO takes home compared to the lowest paid worker. Given it’s owned by an American… I have a feeling I know where they could find some spare funds.
Report on the private equity company breaking it: https://en.wikipedia.org/wiki/NRDC_Equity_Partners Call out their leadership by name and report the salaries and holdings by the leadership. Make sure everyone knows who is at fault: venture capital and people with a hoarding disorder focused on money.
It changed a lot after Macy’s took over and not all the changes were helpful. When they stopped putting clothes in petite regular and plus it became annoying to shop there. I used to buy nearly all my clothes from the Bay but now I hardly ever do.
I'm sure poor management had nothing to do with it. I mean everybody wants to buy clothing that has been sitting in a department store for 3 years. Or walk into a department store that looks like a rummage sale and try to find something.
While I do shop there occasionally (online, since none of their stores are conveniently located anymore), I haven't consider it a Canadian company for a while now, not ever since it's not owned by Canadians. Management have made many questionable decisions (killing Zellers was a big one).
Oh please……they’re in the process of ruining HEALTHCARE in the US. The poor United healthcare CEO was nowhere NEAR as bad as the asshole that brought down Steward Health, and HE bought multiple yachts and jets with his ill gotten gains!
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Huge empty 2-level stores in half-empty malls.
If Sears Canada closed down 7 years ago and was more busy than them, how did Hudson's Bay planned on staying open?
What's the goal of these doomed private equity acquisitions exactly ?
https://bit.ly/4icyqLO
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https://bit.ly/4hkec1l
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Starlink affilliated businesses:
https://bit.ly/4idsB0D
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Bezos businesses: https://bit.ly/4i99CnY
maybe there's a loyalty discount...25%?
#Mismanagement.
Which hastened its demise
They are in the process of ruining my favorite craft & fabrics stores here in the U.S.
Another random thing: when I was little and unable to read their font, I thought there were 2 stores: The Bay and The Kay.