Popular fashion retailer to close all stores after piling on $10 billion in debt over six years The Mirror US Read the original article here
A North Bay company in operation for decades has been deemed bankrupt by the court, and its approximately 50 employees have been let go with severance and pension packages in doubt. Central Welding & Iron Works was founded by Malcolm (Mac) Yetman and was purchased by partners Glenn Graham and Stefan Thomsen in 1980. Graham later sold his share,…
Canadian department store retailer Hudson’s Bay Company said on Friday it has failed to secure sufficient financing to go ahead with a restructuring transaction under the Companies’ Creditors Arrangement Act. Hudson’s Bay The Toronto-based company said it has only secured limited debtor-in-possession financing that will require the full liquidation of the entire business, added that a store-by-store liquidation process will…
Hudson’s Bay Company is seeking court approval to liquidate. Hudson’s Bay Company is seeking court approval to begin a liquidation of its business. In court filings, Canada’s oldest retail company said that despite “exhaustive” efforts it was unable to secure adequate funds needed to facilitate a restructuring transaction under the Companies’ Creditors Arrangement Act (CCAA). It only obtained…
Forever 21 files bankruptcy; Begins liquidation sales WFMJ Read the original article here
Hudson’s Bay is set to be back in court on Monday morning, where it will seek approval to begin liquidating its entire business, putting more than 9,000 jobs at risk. The department store, which holds the title of Canada’s oldest company, says it has been forced toward a full liquidation because “exhaustive” efforts haven’t turned…
Hudson’s Bay is set to be back in court on Monday morning, where it will seek approval to begin liquidating its entire business, putting more than 9,000 jobs at risk. The department store, which holds the title of Canada’s oldest company, says it has been forced toward a full liquidation because “exhaustive” efforts haven’t turned…
BNN Bloomberg is Canada’s definitive source for business news dedicated exclusively to helping Canadians invest and build their businesses. Here are five things you need to know this morning OECD warns on Trump impact: A warning today on the outlook for the world’s economy. The Organization for Economic Co-operation and Development (OECD) says U.S. President…