The Hudson’s Bay Company is the oldest company (if not organsiation) in Canada. It is so integral to the very existence of Canada that much of western Canada was created from real estate that HBC owned. It turns out that HBC announced they have accepted a takeover deal proposed last month by American businessman Jerry Zucker.
HBC Buyout
Sad about HBC, but it was with much personal delight that Eaton’s (in Lethbridge) is gone. They sufferd the curse of my Grandma. She slipped and fell on a wet floor there and subsequently died from a blood clot. We never even received an apology.
RS
Oh that’s awful! :( I am so sorry.
Thanks, it was a sad time. She was a strong lady and very healthy so it came as a surprise. I miss visiting Lethbridge.
so does that mean they are just getting a new owner but will retain the name HBC, Bay and Zellers? Or get a new name? Like maybe Target???
I do not believe those details have been released.
You can be sure of one thing though: store closures.
“[Dominion Bond Rating Service] remains concerned that an acquisition by Maple Leaf will lead to significantly increased debt levels and may not resolve the underlying performance issues with the company.” (CBC)