HBC to close Netherlands business

TORONTO — Hudson’s Bay Co. has announced that its Dutch division will wind down by year’s end. HBC Netherlands BV’s 15 retail stores, e-commerce site and suburban Amsterdam head office. The business is a joint venture between HBC and SIGNA Retail Holdings. Under the terms of HBC’s agreement with SIGNA, the historic Canadian firm is slated to assume control of Hudson’s Bay Netherlands when the transaction closes, which is expected to take place later in the fall.