Hudson’s Bay, the Canadian department store chain founded in 1670, is preparing for a bankruptcy filing within days, people familiar with the matter said.
The chain became a stand-alone business following its December 2024 deal to spin off its Saks Fifth Avenue subsidiary through a combination with Neiman Marcus Group. As part of that transaction, Saks acquired Neiman Marcus for $2.65 billion, establishing a new entity called Saks Global, which also owns Bergdorf Goodman. Saks Global isn’t expected to file for bankruptcy itself, only Hudson’s Bay will, the people familiar with the matter said.
