The CBC is reporting that Hudson’s Bay is in talks with Neiman Marcus, who as of late has been considered a struggling retailer.
CBC reports that Hudson’s Bay is looking to acquire Neiman Marcus’ assets, but would do so in a way that would avoid also taking on Neiman’s debt.
As a matter of company policy Hudson’s Bay does not discuss speculative business deals, however, Hudson’s Bay as a holding company is a master of acquisition. Hudson’s Bay lead by Governor and Executive Chairman Richard Baker strategically focuses on acquiring retailers that have a strong real estate footprint. By getting the most out of coveted retail real estate, Hudson’s Bay has been successful at maximizing the potential of established retail chains.
We will keep you posted as this story develops.
Source: CBC News