THUNDER BAY – The changing retail landscape is about to cost the city yet another national storefront.
The Hudson Bay Company on Thursday announced it will close all of its Canadian locations as part of a company restructuring, including its local outlet at the Thunder Centre.
The company also expects to close up to 20 U.S.-based Saks OFF 5th stores, reviewing all 133 of them.
“Further streamlining our retail portfolio enables even greater focus on our businesses with the strongest growth opportunities. The divestiture of Gilt, rightsizing of Lord & Taylor, the recent merger of our European retail operations in Germany, and today’s announcement exemplify the bold strategic actions we are taking to set HBC up for long-term success,” said Helena Foulkes, HBC’s chief executive officer, in a release.
“We know this news is difficult for our associates. We are grateful for their ongoing efforts to serve our customers and we will work to find opportunities within HBC for impacted team members where possible.”
The Home Outfitters closure is expected to happen sometime in 2019.
Gift cards will still be redeemable at the company’s Hudson Bay locations across Canada, although there is not an outlet in Thunder Bay.
