Initial plans to open 20 Hudson’s Bay department stores in the Netherlands have been narrowed to 15. The retailer announced that it is currently focusing on stores that are in development and denies financial problems.
Hudson’s Bay Co plans to reject Austrian property and retail group Signa Holding GmbH’s 3 billion euro bid ($3.7 billion) for Kaufhof, Germany’s largest retail chain, people familiar with the matter said on Wednesday.
Signa Holding GmbH, the Austrian group that owns German department store operator Karstadt, sent Hudson’s Bay Co this week details of the financing it has put together for its 3 billion euro bid for Kaufhof.
Saks Fifth Avenue owner Hudson’s Bay Co said on Wednesday it had received a bid for its German department store chain Kaufhof from Signa Holding, the Austrian property and retail group that owns Karstadt.
Canadian department store operator Hudson’s Bay Co agreed to sell its Lord & Taylor flagship building in New York for $850m to WeWork, in what may be a step toward easing tensions with activist investor Jonathan Litt.
Canadian retailer Hudson’s Bay signaled on Friday it had no intention of selling German department store chain Kaufhof, after sources said Austrian real estate company Signa Holding was considering a bid.
Hudson’s Bay activist shareholder Land and Buildings said on Wednesday it believed a highly qualified third-party buyer had “serious interest” in acquiring Galeria Kaufhof, the department store operator’s European chain.