I don’t understand why people have such hard-ons for a corporation. HBC was probably bought up because none of us went there in the first place. Now that the US owner is going to liquidate it you wanna save it? It’s so dumb.
Some Canadian should buy em up and rebrand as Canadian only. Sell all made in Canada goods. Become Canada’s Costco but better.
I have a lot of nostalgia for the Bay. But shipping there sucks: it took forever to find an attendant, staff ignored customers, and selection was sparse. There may be good reasons for that, but it was alienating to customers.
On top of that:
She said customers likely noticed the lack of investment by Hudson’s Bay into its physical stores, where it wasn’t uncommon to find non-functioning escalators that went unrepaired for long periods of time. Amlani also pointed to several stores in the Vancouver area that temporarily closed last summer related to problems with air-conditioning systems.
She said another problem the company ran into in recent years was that its stores’ hours didn’t always align with that of the malls where they are located.
It’s shitty that 10k people will probably lose their jobs because the company was so poorly managed.
The crazy part is a ‘Canadian’ company that runs out of winter wear in November. Many problems with the business, but the whole Saks thing was a complete bust. Trying to do luxury when they aren’t even doing ecommerce and retail basics for the year 2000 is obviously a going out of business strategy. Situation is that hedge funds have no idea how to run businesses, they just extract value if it goes well or juice the husk and discard if it doesn’t and move on. Their path of destruction through the US and Canada destroys livelihoods and our economic capabilities. For some people, this is extremely profitable. Amazon comes to mind.
the next Labour government needs to reverse a lot of what harper did regarding foreign ownership
This is infuriating. United States’ wealthy people should never be trusted or sold to.
The problem is the people running these companies always see cash as king and when someone flashes lots of cash in front of them, it weakens the knees and they sell. Investment Vulture Capitalists are the absolute devil though.
Vultures
It’s been a long time coming. Department stores in Canada have been dying off one by one, and they were the last. It’s a business model that just doesn’t work here anymore.
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Isn’t Walmart a department store?
No, they’re a big box store, not associated with a mall like a department store.
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I know it’s historical and all but I don’t really care about losing a store I’ll never be able to afford to shop in, anyway.
