Canada's oldest company, Hudson's Bay, is set to close

 

 

 

Experts say that the closure of Canada's oldest company, Hudson's Bay, will leave a huge gap in the country's retail sector. If the current problems cannot be resolved, the company is preparing to cease operations in the coming months. Retail experts say that various problems have disrupted the company's operations. The company had announced that it would begin liquidating its entire business after receiving court approval next week.

The company was founded in 1670. The company now has a large department store chain spread across 80 stores. The company is forced into full liquidation after all efforts to maintain at least a part of its business empire failed. The liquidation process will be completed in June. As many as 9,364 employees could lose their jobs with the closure of the entire business. This is really sad, said Lisa Amlani, co-founder of the Retail Strategy Group. "It's an iconic brand. It's important to Canadians, and if The Bay disappears completely, there will be a gap in the market," she said.