Canadian Retailer Hudson’s Bay Prepares to File for Bankruptcy

Hudson’s Bay, Canada’s oldest retailer, is planning to file for bankruptcy, according to people with knowledge of the matter.

The department chain has been unable to secure financing to shore up its cash reserves, said some of the people, who asked not to be identified discussing a private matter. Hudson’s Bay has also been delaying payments to suppliers, they added. The retailer’s plans could change, the people said.