Posted on 03/17/2025 8:46:02 PM PDT by Morgana
An iconic 354-year-old Canadian retailer is going out of business and shutting down all of its stores.
And it's pointing the finger at America and the ongoing tariff war.
Hudson’s Bay, a retailer and an anchor to dozens of malls across Canada, is preparing for an 'immediate' liquidation after failing to secure enough money to stay afloat.
Clearance sales will begin as early as next week at all 80 Hudson’s Bay locations, as well as three Saks Fifth Avenue and 12 Saks Off 5th stores it operates in Canada.
Hudson’s Bay blames its collapse on sluggish consumer spending, post-pandemic declines in foot traffic, and even trade tensions between Canada and the U.S.
The two countries have been engaged in a brutal back-and-forth after President Donald Trump launched tariffs on Canadian imports.
Canada hit back with duties on $20 billion worth of American goods.
The tariffs, a cornerstone of President Trump's economic vision, are expected to raise prices for everyday Americans and Canadians who have already been hurt by inflation and high borrowing costs.
(Excerpt) Read more at dailymail.co.uk ...
Can you say “scapegoat?”
Yaa tell me again how Canada has any power over the US?
This is real easy Canada, stop your tariffs and control your border, then all is good again.
A tariff in place for a few weeks is suddenly responsible for their business failure?
Not even.
“Hudson’s Bay blames its collapse on sluggish consumer spending, post-pandemic declines in foot traffic, and even trade tensions between Canada and the U.S.”
Click bait headline.
I’d send them a sympathy card but I can’t find one that lists Canadian tariffs on the U.S.
Here is a list of tariffs Canada Imposes on U.S.
Goods:
⁃ Dairy Products:
⁃ Milk: 270%
⁃ Cheese: 245%
⁃ Butter: 298%
⁃ Poultry: 238%
-Eggs: 163%
⁃ Barley: 160%
⁃ Wheat: 94%
⁃ Sugar: 265%
⁃ Peanut Butter: 295%
⁃ Rice: 150%
⁃ Vegetables: 100%
⁃ Fish Products: 100%
⁃ Lumber: 20%
⁃ Shoes: 30%
⁃ Cocoa: 30%
⁃ Metals: 25%
⁃ Wool: 30%
⁃ Tobacco: 100+%
Most Americans don’t have any need to buy moose jerkey or pine needles. Kiss off Canada. LOL, EH!!!
Looks like they were waiting for an excuse to cover their loss.
But, nothing lasts forever.
Well folks that tears it. I feel just awful. Hope I can sleep tonight. Although I’d have to drive over 900 miles to get to a store over in Canada. I’m glad I did my time in the military instead of running to Canada during Vietnam. Imagine my guilty feelings otherwise. 🙄
Where in Canada do they grow rice?
Hudson, like all retail, didn’t apat to the times.
We have a eight point on our bed that is from the 50s. Keeps us nice and warm.
Same place they grow cocoa and tobacco.
Trump is in office only less than 2 months, and the tarrif is only in April? And they are collapsing already... remind me of little piggies who build their house from straw. A wind blows it right away.
AFAIK they don’t.
>> But, nothing lasts forever.
Especially not things that started out well but were mismanaged into the ground. ;-)
What a joke. 354 year old businesses don’t suddenly go belly up.
Takes years of mismanagement by offspring.
So, tariffs that haven’t even happened yet are responsible for a situation that has been years in the making. Right.
Many stores are going out of business because shopping habits have changed so drastically.
Here in the US, we are losing Joann Fabrics because they simply could not change with the times. For crafters, this is a huge loss.
I saw an article that estimated that around 12,000 stores are expected to close around the US because of similar issues. Macy’s, JC Penney, Kohl’s, a few others are all closing stores. It is not surprising that some of the same issues driving store closures in the US also affect stores in Canada. I wouldn’t be surprised if the rest of the world is being affected in a similar fashion.
Thousands of stores and restaurants have closed here in the states...we don’t complain about it and blame another country.
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