Experts say that Hudson’s Bay had been in decline long before then, some tracing its issues back to its 2008 acquisition by the American investment firm NRDC Equity Partners, and saying that the company’s new ownership prioritized its real estate over a cohesive retail strategy.
Emphasis mine.
Anyone with any knowledge of private equity knew this would happen. PE buys a business, sells off all the profitable bits, then leaves the rotting corpse for governments to clean up.
HBC engineered its own demise.
I should probably use the gift card I’ve been sitting on for a long time.
Problem is, everything there is overpriced crap.
I’ve got a Home Outfitters one still…
Wait until you see what’s going on with their Bed Bath and Beyond court case
I saw NRDC, and read Natural Resources Defense Counsel, but it’s National Realty & Development Corp.
Yup. They’re in it because they now own all the real estate. The business wasn’t important.
