Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
TORONTO — Canadians headed to Hudson’s Bay stores Monday in hopes of scooping up the first of the retailer’s liquidation deals, but many left confused about whether the markdowns had even begun.
TORONTO — Canadians headed to Hudson’s Bay stores Monday in hopes of scooping up the first of the retailer’s liquidation deals, but many left confused about whether the markdowns had even begun.
Shoppers who visited department stores in Quebec and Alberta noticed plenty of sales signs the company uses seasonally but none advertising a clear-out or liquidation underway.
“I was hoping for better,” said Mireillle Girouard as she sifted through the racks of women’s clothing at a Hudson’s Bay in La Salle, Que.
By Dr Julia Lyons, Senior Clinical Lead, Onebright
This week is Debt Awareness Week, and this year’s theme is around breaking down the stigma and shame associated with being in debt.
It is perhaps not surprising to hear that the number of individuals in debt has increased over recent years. In 2023, 15% of the UK population, equivalent to 8 million people, required debt advice. These individuals are typically under 35 years old, in households with children and low income, from underrepresented communities, and more likely to have experienced an income shock in the previous three years, such as a drop in earnings.
Debt can be a significant challenge for some people and worrying about personal finances can…
Getting rid of $100,000 in credit card debt won’t be easy, but the good news is that you have options worth considering.
Getty Images
If you’re trying to get rid of $100,000 in credit card debt, you almost certainly know how insurmountable paying off that amount of debt can feel — especially in today’s high-rate environment. With credit card rates averaging nearly 23% currently, the minimum payments alone on a $100,000 debt might exceed what’s manageable within your monthly budget, and the psychological weight of carrying such…
SALT LAKE CITY — A Utah elementary school has had its entire school lunch debt paid off with the help of an Alta High teenager.
David Van Hafner, 17, was already volunteering at a local community service center when he decided to look for a way to support young students in his community. So, he worked multiple jobs, saved his money and reached out to the Utah Lunch Debt Relief Foundation.
“I want those kids to go on later in their lives [and] do the same things I’m doing, because the community can help the community’” said Van Hafner. “It’s just great to see stuff like that, like the influence you have.”
DJ Bracken, executive director of the Utah Lunch Debt Relief Foundation, says thanks to…
TORONTO — When Olivia Glauberzon pulled up to the loading docks at two Hudson’s Bay stores last Wednesday, she had suitcases in tow and a plan to fill them with remaining product from After9, her company selling athleisurewear for moms.
As she got out of the car at the flagship downtown Toronto and Oakville, Ont., stores, she noticed she had plenty of company.
“The loading dock was full of small cars like mine, so that’s how I had a feeling there were a lot of vendors in the Bay that day doing what I was doing,” said Glauberzon.
She wanted to take back her apparel because she can make more by selling it herself rather than leaving it to be caught up in the Hudson’s Bay clear-out.
All but six of Hudson’s Bay’s stores will start to sell off their inventory today, including this downtown location in Calgary, seen here on March 21. (Helen Pike/CBC – image credit)
Liquidation sales kicked off Monday morning at all but six of Hudson’s Bay’s locations as the company continues to search for a way to restructure.
An Ontario judge gave Canada’s oldest company permission on Friday to begin clearing the inventory at most of its stores, a process which starts today and is expected to wrap up by June 15.
After liquidation sales end, the company will vacate these locations by June 30. All loyalty programs and points have been suspended, leaving around 8.2 million Canada members with about $58.5 million in unused…
A company and its operations manager have been fined following the death of a worker who fell through a fragile roof while dismantling machinery at a site in Dudley.
Maciej Rozanski, 42, was working at Surface Technik’s (Old Hill) Sovereign Works site on Deepdale Lane on 29 June 2018 when he stepped onto a fragile roof and fell over 20 feet to the floor below. He suffered serious injuries and was pronounced dead at the scene.
Surface Technik (Old Hill), now in liquidation, was found guilty of breaching health and safety laws following a trial, while Robert Hammond, who led the project, had already pleaded guilty.
An investigation by the Health and Safety Executive (HSE) found the company had failed to carry out a…
Ant Middleton gives a speech at the Reform Party 2024 Conference.
Picture:
Getty
TV star and former soldier Ant Middleton has been banned from being a company director after his company failed to pay more than £1 million in tax.
He has had to sell his and his wife’s home to pay off the debt.
The former star of Channel 4’s SAS: Who Dares Wins and his wife Emilie were the directors of Sway and Starting Limited before it went into liquidation at the end of 2022.
But the government’s Insolvency Service has now discovered that Middleton and his wife were raking in millions of pounds from the business, while not paying their tax bill -…
