Rumors have been swirling around The Hudson’s Bay Company (HBC) after a report from the Wall Street Journal suggested that the iconic Canadian department store chain may be filing for bankruptcy in the near future.

The report cited anonymous sources “familiar with the matter” and claimed that the filing could take place “within days.” This has raised concerns among both employees and loyal customers of the 350-year-old company, which has long been a staple in Canadian retail.

Hudson’s Bay Company Filing for Bankruptcy

The Wall Street Journal report has sparked widespread speculation, especially considering HBC’s struggles in recent years amid the changing retail landscape. The company, which operates well-known stores such as Hudson’s Bay, Saks Fifth Avenue, and Saks OFF 5TH, has faced financial challenges, including declining sales and increased competition from online retailers. In addition, the COVID-19 pandemic significantly impacted retail sales, with stores temporarily closing and in-person shopping habits shifting toward e-commerce.

Hudson’s Bay Company Bankrupt

Despite the growing buzz around the bankruptcy rumors, HBC has been tight-lipped about the situation. When approached for a comment on the Wall Street Journal report, a representative from the company told Daily Hive here via email that HBC “does not comment on rumor or speculation,” leaving many questions unanswered.

While the future of HBC remains uncertain, it’s clear that the company is navigating a challenging period in the retail sector. Until HBC makes an official statement or confirms any major changes, the rumors will continue to circulate, leaving employees, investors, and customers anxiously awaiting further developments.