Hudson’s Bay in Park Royal shopping centre in West Vancouver, B.C. on March 27.Isabella Falsetti/The Globe and Mail
A proposed agreement that would have given Hudson’s Bay Co.’s senior lenders the ability to control the retailer’s restructuring has been struck down by the court – introducing the possibility that those lenders will attempt to push the company into receivership.
The decision, published on Saturday, follows two days of arguments this week over whether additional “guardrails” over the Bay’s liquidation were needed, as proposed by the lenders – Bank of America N.A., Pathlight Capital LP and Restore Capital LLC.
In order to provide those guardrails, the retailer and the lenders…
