It appears Trudeau/Carney have now destroyed another defining Canadian institution with ‘carbon’ tax and lockdowns. Hudson’s Bay to close all stores
BREAKING: Hudson’s Bay Company, established in 1670, plans to LIQUIDATE its entire business as early as next week, putting over 9,000 jobs at risk. This marks the end of a 355-year legacy in Canadian retail history.
It will be an expedited liquidation process. We discussed the declining traffic since COVID and added costs like Carbon Tax and the tariff war with US playing a major factor. What this govt doesn't realize is some businesses cannot lower their footprint. 3-6 floor stores w/ multiple gas boilers to heat them and massive ACs to cool them cannot be made more efficient. And add to that increasing shipping costs and declining sales.