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Stock impact report

Hudson's Bay to liquidate entire business, still seeking additional capital [BNN Bloomberg (Canada)]

Columbia Sportswear Company (COLM) 
Last columbia sportswear company earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.columbia.com
Company Research Source: BNN Bloomberg
The department store chain that dates back to 1670 and now spans 80 stores said it has been forced toward a full liquidation because “exhaustive” efforts haven't turned up the financing it needs to keep at least some of its empire alive. A closure of the entire business, which is planned pending a court appearance set for Monday, would mean job losses for 9,364 employees the company has in Canada across its Hudson's Bay stores, as well as three Saks Fifth Avenue stores and 13 Saks Off 5th locations it owns through a licensing agreement. Though the situation looks bleak, the company is holding out hope for a Hail Mary. It said it remains optimistic that it can drum up capital and find a solution with key stakeholders, particularly its landlord partners, to avoid a full shutdown. “Our team has worked incredibly hard to identify a viable path forward, and our resolve is strengthened by the overwhelming support from customers and associates who have shared heartfelt stories about H Show less Read more
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