[Daily Mail, where America gets its news] 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.
Any port in the storm.
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.
| So the problem predates the current spat with President Trump. So rude to blame it on America when the problem is the poor Canadian economy under the Trudeau government and changing shopping habits as people increasingly shop online. |
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.