logo
Hudson's Bay intellectual property acquired for 30 million dollars

Hudson's Bay intellectual property acquired for 30 million dollars

Fashion United20-05-2025
The intellectual property of Canadian retailer Hudson's Bay Company (HBC) has been snapped up in an acquisition deal amounting to 30 million Canadian dollars (21.5 million US dollars).
The move has been made by Canadian Tire Corporation (CTC), which announced that it had entered into a definitive agreement to secure the HBC Stripes – the stripe design synonymous with HBC – and other company names, logos, designs and brand trademarks, including that of HBC subsidiary The Bay.
CTC expects to close the transaction, which is subject to court approval and other customary conditions, later this summer. The company further confirmed that it had 'bid for a handful of lease locations'.
In a release, CTC's president and CEO, Greg Hicks, said the decision to acquire HBC's IP 'feels as strategic as it feels patriotic'. Bringing HBC under its umbrella – which already houses Helly Hansen, Mark's and Sportchek – thus adds to the group's 'portfolio of owned brands alongside other Canadian favourites that we have fostered and grown', Hicks added.
HBC confirmed in March that it was seeking bankruptcy protection in response to mounting financial pressures. A statement at the time shared that it was exploring strategic alternatives and engaging stakeholders to identify potential solutions to preserve the business.
The retail company then began a store-by-store liquidation process after failing to find sufficient funding for a restructuring plan. HBC confirmed that it was to liquidate its remaining stores in Canada from April 25.
On this topic, Hicks added: "It's disheartening to witness the final days of another great Canadian retailer, and while the circumstances are unfortunate, we're proud to step in for customers.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Experts determine the single factor which makes you most attractive to a potential partner... and it's NOT personality
Experts determine the single factor which makes you most attractive to a potential partner... and it's NOT personality

Daily Mail​

time26 minutes ago

  • Daily Mail​

Experts determine the single factor which makes you most attractive to a potential partner... and it's NOT personality

It is a well-known saying that money doesn't buy you happiness, but researchers now say that single adults with higher incomes are more likely to find love. The findings, published in the Journal of Marriage and Family, revealed that a higher bank balance could make you more attractive, signalling a sort of romantic readiness. Researchers also found that people with higher incomes felt more ready to date and were more likely to actively look for a partner than those with less. The Canadian researchers conducted two long-term studies—one in the US and the other in Germany—to see how people's relationship attitudes changed over time with their income. In the US study, researchers specifically focused on 25-35-year olds, with the belief that this is when people are most likely to seek a relationship. In both studies, results showed that single adults with higher incomes were more likely to say they felt it was the right time to find a partner. When surveyed again, either six months or a year later, those who enjoyed bigger salaries were more likely to have found love. In the German cohort, the effect was stronger for men than women though researchers said the bias was not significant. Professor Geoff MacDonald, a relationship psychology expert from the University of Toronto, said: 'I think that young people are making rational calculations in unstable economic conditions. 'Young people understand they are not going to be able to enjoy a relationship if they are working 80 hours a week, of if they are not sure where they're going to live next year.' Interestingly, earning more money or less money than the year before had little effect on whether people felt they were ready for a relationship. What mattered most was financial stability, rather than short-term financial influx or decline. Professor Johanna Peetz, study co-author and and personal spending expert, concluded that one reason for money and relationship desirability being so interconnected could be that money enables us to fulfil basic needs. 'With increasing financial resources higher hierarchical needs such as love and belonging—namely the intimacy and romance that are part of partnerships—might become more relevant.' She added: 'This connection helps in understanding the sorts of tasks that many single people may be occupied with and organise their lives around, such as more firmly establishing material security.' The researchers concluded that their findings should serve as a reminder to psychologists that whilst things like personality are important when it comes to forming and maintaining relationships, material conditions also play a significant role. They added that their findings show that the role of income in relationship interest was largely similar in men and women, challenging the common perception that money in a primarily a concern in dating for men. However, the researchers acknowledged that while the study provides evidence for a connection between wealth and relationship intentions, it does not prove that money causes people to enter into relationships. They said a whole host of other factors including personality, life goals and cultural values, also play a role in romantic readiness.

Business news live: Tesla shares sink after Elon Musk warning and Keir Starmer to sign new £6bn trade deal
Business news live: Tesla shares sink after Elon Musk warning and Keir Starmer to sign new £6bn trade deal

The Independent

time2 hours ago

  • The Independent

Business news live: Tesla shares sink after Elon Musk warning and Keir Starmer to sign new £6bn trade deal

British car manufacturing is at a real low, as production figures for the first six months of the year fell to levels not seen since the 1950s, excluding lockdown. Tariff talk and trade deals taking time to sort played havoc with the industry from April onwards, though the UK does now have a framework deal which includes 100,000 cars to be exported to the US outside of the standard tariff rate. In news affecting both workers and the Bank of England, the UK saw a slight 'burst' of job vacancies in June, says the Recruitment and Employment Confederation (REC), with domestic businesses having recently been faltering in hiring due to National Insurance and minimum wage rises. Stock markets rose overnight in Asia and the FTSE 100 is to open at a record high today, while business could be further boosted by news Keir Starmer is set to sign a trade deal with India worth £6bn.

Australia grants US beef relief; Bullock defends rates caution; and Charlotte Otton's funniest things
Australia grants US beef relief; Bullock defends rates caution; and Charlotte Otton's funniest things

The Guardian

time2 hours ago

  • The Guardian

Australia grants US beef relief; Bullock defends rates caution; and Charlotte Otton's funniest things

Good afternoon. Australia will lift restrictions on imports of US beef, a concession is expected to help pave the way for Anthony Albanese to argue for exemptions from Donald Trump's 50% tariff on steel and aluminium and a looming 200% tariff on pharmaceuticals. The agriculture minister, Julie Collins, says her department is 'satisfied' by strengthened control measures in the US to 'manage biosecurity risks' and denied the move was related to Trump's escalating tariff war. The US has had access to Australia's beef market since 2019, but this will significantly expand access for US farmers to export beef sourced from cattle born in Canada or Mexico which are legally imported and slaughtered in the US. The opposition says it's 'cautious' about lifting restrictions on US beef, while the government has said Australia's biosecurity won't be 'compromised'. 'Significant legal breakthrough' as NSW court blocks state's largest coal expansion over emissions Trump push to ban birthright citizenship unconstitutional, US court rules Court grants leave for Australian women to sue Qatar Airways over alleged invasive physical examinations RBA wary of cutting rates until it has more evidence on inflation, Bullock says Albanese government plotted to maintain native forest logging in NSW if court battle was lost, documents show North Korea's military is being transformed on the battlefields of Ukraine – so why is Seoul silent? From extreme weather across Asia to a police graduation and protest over starvation in Gaza, the Guardian's picture editors select some of the top photographs from around the world. 'The people say they're from the country – get it right. Steers don't fight. We castrate them so they don't, right? Steers have their testicles removed … Bulls moo. Bulls fight.' – Barnaby Joyce The Nationals MP can't seem to get enough of the press gallery this week, returning to have another crack at Dan Tehan, who referred to Joyce and Michael McCormack yesterday as 'two steers fighting in the neighbour's paddock'. (Tehan is from the country, holds a regional seat and his father ran a cattle and sheep farm.) All of this stems from an ongoing fight in the Nationals party room over net zero policy and the future of David Littleproud's leadership. The Ivy League university announced a much-anticipated deal with the Trump administration meant to bring a resolution to the threat of massive funding cuts to the school after May protests against Israel's attack on Gaza. Under the agreement, the school will pay a $200m settlement over three years to the US government and $21m to settle investigations brought by the Equal Employment Opportunity Commission, as well as codifying changes to the university's student disciplinary process and adopting a controversial new definition of antisemitism. Sign up to Afternoon Update Our Australian afternoon update breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion Charlotte Otton: the 10 funniest things I have ever seen (on the internet) The performer and creator of the show I Watched Someone Die on TikTok shares what she has watched on TikTok, which is mostly creepy AI filters. Today's starter word is: THAN. You have five goes to get the longest word including the starter word. Play Wordiply. Enjoying the Afternoon Update? Then you'll love our Morning Mail newsletter. Sign up here to start the day with a curated breakdown of the key stories you need to know, and complete your daily news roundup. And follow the latest in US politics by signing up for This Week in Trumpland. If you have a story tip or technical issue viewing this newsletter, please reply to this email. If you are a Guardian supporter and need assistance with regards to contributions and/or digital subscriptions, please email

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store