Hudson's Bay liquidates after failing to adapt

Hudson's Bay Co. ULC, North America's oldest company, is liquidating its remaining stores after failing to secure a rescue plan. The company, under bankruptcy protection, will auction off its assets. The retailer's restructuring plan, including saving flagship locations, collapsed due to financial difficulties and shifting consumer behavior. Several factors, including the COVID-19 pandemic and delayed restructuring efforts, contributed to the company's demise. Founded in 1670, Hudson's Bay struggled to adapt to e-commerce and changing markets. Leadership decisions and internal issues further exacerbated the company's challenges, leading to its eventual liquidation.