Hudson’s Bay Company, Canada’s oldest retailer, didn’t die of natural causes — it was gutted by private equity. Stripped of assets and loaded with debt, it leaves behind job losses, endangered pensions, and a hollowed-out legacy reduced to branding rights.
That’s the thing, the PE firm already sold the major assets (the real estate) to themselves and leased it back to HBC. It’s their standard playbook.
Exactly; the money is there but the PE leeches get to keep it all. “But bankruptcy” get the money or put the principals in prison, and work down the investor list.