Hudson’s Bay to close Dutch stores by end of year

Canadian retailer Hudson's Bay is reportedly planning to close all its stores in the Netherlands by the end of the year.

A total of 15 stores will be closed and 1,424 jobs will be lost, according to Dutch newspaper Het Financieele Dagblad (FD), citing a letter from Hudson’s Bay parent company Hudson’s Bay Company (HBC).

Dutch trade unions CNV and De Unie confirmed the news in the national media, but Hudson's Bay denied to Dutch news foundation NOS that a final decision had been made and says that negotiations are still ongoing with stakeholders.

Hudson's Bay opened its first department store outside of Canada in Amsterdam in 2017.

Last week, the Canadian retailer announced it is selling luxury department store chain Lord + Taylor to fashion rental subscription service Le Tote in a 100 million dollar deal.

Photo credit: FashionUnited