As Hudson’s Bay continues to seek ways to stabilize and restructure what little will soon be left of its ailing business, it’s opening itself up to selling its assets.
Court-approved processes meant to uncover companies that want the Bay’s most prized possessions are expected to get underway this month — and experts expect there will be no shortage of potential buyers.
Many agree the most valuable assets the company has to offload are its leases, which cover gigantic spaces in high-traffic neighbourhoods and coveted anchor tenant spots in malls.
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Grant Packard, associate professor of marketing at York University, figures there will also be interest in the company’s stripes branding because it’s so iconic.
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He imagines another Canadian brand will likely try to make an offer that keeps the stripes alive but in a smaller form, like a specialty shop.
Elisha Ballantyne, a Toronto-based retail consultant who has worked for Target, Walmart and Zellers, agrees the stripes have potential. She says a buyer could expand the branding across a whole host of other products and take advantage of the growing buy Canadian sentiment.
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