HBC seeks creditor protection

Hudson’s Bay Co. has filed for creditor protection, with a view to restructuring its business. In a submission to the Ontario Superior Court of Justice, the historic retailer said it would retain as many jobs as possible, without making any guarantees, and will explore options to keep its store network alive. CFO Jennifer Bewley testified in an affidavit that without court intervention, HBC would quickly default on rent payments and payroll obligations.