| | | On June 1, Hudson's Bay Co. "closed its remaining 96 Bay and Saks-branded stores to the public," CBC News said last week. Two days later, a court approved the sale of the Bay's intellectual property to Canadian Tire for $30 million.
CBC's The National created a graphic of dollar bills flying out of a hole in a Bay-branded shopping bag to introduce a 1985 report on trouble at the company. Reporter Larry Stout said it had lost $300 million in the previous three years.
"The Bay is real estate, oil and natural gas, cigarettes and booze," he said. "But to most of us, it's a department store — a store that's in trouble." But there was a "bright note," he added. "The company's junior department store, Zellers, is apparently making a profit." | | | |