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 rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.