Article

2025-03-18 Great White North

Canadian department store blames America as it liquidates all remaining locations and lays off thousands

[Daily Mail, where America gets its news] An iconic 354-year-old Canadian retailer is going out of business and shutting down all of its stores.

And it's pointing the finger at America and the ongoing tariff war.
Any port in the storm.
Hudson’s Bay, a retailer and an anchor to dozens of malls across Canada, is preparing for an 'immediate' liquidation after failing to secure enough money to stay afloat.

Clearance sales will begin as early as next week at all 80 Hudson’s Bay locations, as well as three Saks Fifth Avenue and 12 Saks Off 5th stores it operates in Canada.

Hudson’s Bay blames its collapse on sluggish consumer spending, post-pandemic declines in foot traffic, and even trade tensions between Canada and the U.S.

So the problem predates the current spat with President Trump. So rude to blame it on America when the problem is the poor Canadian economy under the Trudeau government and changing shopping habits as people increasingly shop online.

The two countries have been engaged in a brutal back-and-forth after President Donald Trump launched tariffs on Canadian imports.

Canada hit back with duties on $20 billion worth of American goods.

The tariffs, a cornerstone of President Trump's economic vision, are expected to raise prices for everyday Americans and Canadians who have already been hurt by inflation and high borrowing costs.

Posted by Skidmark 2025-03-18 00:19|| || Front Page|| [11143 views ] Top

#1 Too soon for any of that.

Covid & economic policies of the Turdo Regime including declining Canadian dollar and increase percentage taxes on take-home income to support the lethargic migrants pushes an out of style business model past the cusp.

Posted by swksvolFF 2025-03-18 13:09|| 2025-03-18 13:09|| Front Page Top

#2 sales taxes of up to 15% probably also had a role in depressing retail sales

Posted by Lord Garth 2025-03-18 13:24|| 2025-03-18 13:24|| Front Page Top

#3 Probably like everything else, grossly mismanaged by overpaid and undereducated executives who dutch ruddered a DEI program.

So they hired out DM and screamed, "Fuck Trump" as a distraction from them sneaking out the back door with bags of cash.

Posted by swksvolFF 2025-03-18 15:31|| 2025-03-18 15:31|| Front Page Top

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