The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
AMSTERDAM, The Netherlands — Hudson's Bay will close its Dutch stores on December 31, the union that represents its workers in the Netherlands said on Thursday.
Hudson's Bay could not immediately be reached to confirm the closure of the 14 stores.
The CNV Union said 1,424 employees had been informed of the company's decision on Thursday, and added that severance packages were "respectful" to the people whose jobs would be lost.
"We've seen other retailers in the past just pull the plug and let themselves be declared bankrupt," said Jacqueline Twerda in a statement.
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Earlier this week the Canadian retailer reported a second-quarter net loss from continuing operations of C$462 million, worsening from a C$104 million loss a year earlier, amid falling same-store sales, and store closures.
By Toby Sterling; editor: David Evans.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.