Hudson’s Bay to sell name, stripes, brands to Canadian Tire for $30 million
Hudson’s Bay to sell name, stripes, brands to Canadian Tire for $30 million
The deal would allow products to be sold by Canadian Tire, which also owns SportChek and Mark's, but it still needs court approval.
You're viewing a single thread.
This makes a whole lot of sense. They can easily keep a strong position in the retail market across a variety of lifestyles. It's a healthy portfolio and (as far as I know) is actually Canadian. Hopefully they change a few things though, The Bay went out of business for a reason.
The Bay went out of business for a reason.
The reason is that the private equity firm that bought them, sold the land that they owned to another private equity firm and then forced them to pay exorbitant rent on land that they had owned for literally hundred+ years.
That reason is Private Equity. PE kills everything it touches.