The owner of former Sears stores is looking to sell as many as 50 properties as it tries to generate cash and focus on the development of other sites

Continued caution is advised as mounting underlying turmoil could disrupt relations among both developed and emerging market economies.

With millennial shoppers keener to buy online or directly from brands, Hudson's Bay has yet to offer something they can’t find somewhere else and risks drifting into irrelevance.

J.C. Penney Co., Macy’s Inc. and Kohl’s Corp. all reported declines in revenue from a year earlier.

Chairman Edward Lampert has said the retail chain will focus more on tools and appliances than apparel.

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Should the retailer liquidate its assets, it would become one of the most high-profile victims in the wave of bankruptcies that has swept the industry in the last few years.

If the 125-year-old retailer does die in bankruptcy, it would mark the largest fatality yet in the retail apocalypse.