7 d. ago Hudson’s Bay Company to Launch Separate Auction for Art and Historical Artifacts

Auction aims to involve participants committed to ensuring the Company’s most significant art and artifacts remain preserved for the benefit of future generations TORONTO — Hudson’s Bay Company ULC (Hudson’s Bay or the Company), as part of its ongoing restructuring under the Companies’ Creditors Arrangement Act (CCAA), today announced that subject to court approval, it […]

Economics

3 w. ago Court refuses Hudson’s Bay restructuring plan to empower lender in creditor protection case

Court-appointed monitor is sufficient to balance the lenders' rights with those of other stakeholders, judge rules

Economics

3 w. ago Judge rejects Hudson’s Bay proposal in creditor protection case

TORONTO — An Ontario judge has rejected a Hudson’s Bay restructuring agreement, increasing the likelihood that lenders may seek to push the company into receivership. In a written decision issued Saturday, Ontario Superior Court judge Peter Osborne said he declined to approve the agreement because it is “neither necessary nor appropriate at this time.” The […]

Economics

4 w. ago Hudson's Bay restructuring meeting interrupted by the most embarrassing thing

A court hearing over Hudson’s Bay's last-ditch restructuring plans quickly ended up getting NSFW.As reported by The Star, the public Zoom call for the Wednesday hearing was interrupted within the first hour by multiple windows containing pornographic videos.It took about 15 seconds for the videos to be removed. Ontario Superior Court Justice Peter Osborne then ordered the Zoom link to be closed off to anyone who wasn’t one of the parties involved with the proceeding. It’s unclear who started the porn playback.Even without the porn videos, though, Hudson’s Bay has been in a really sticky situation. Earlier this month, the company began liquidating all but six of its stores after filing for creditor protection over being nearly $1 billion in debt.The company is proposing a restructuring plan that keeps the six remaining stores thanks to senior secured lenders Bank of America, Pathlight Capital and Restore Capital. However, Hudson's ...

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last month Hudson’s Bay likely to find buyers for assets like leases, stripes: experts

As Hudson’s Bay continues to seek ways to stabilize and restructure what little will soon be left of its ailing business, it’s opening itself up to selling its assets.

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last month Hudson’s Bay likely to find lots of buyers for assets like leases, stripes: Experts

As Hudson’s Bay continues to seek ways to stabilize and restructure what little will soon be left of its ailing business, it’s opening itself up to selling its assets. Court-approved processes meant to uncover companies that want the Bay’s most prized possessions are expected to get underway this month — and experts expect there will […]

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