BUSINESS REPORT: Hudson’s Bay facing different problem among retailers

With problems at Sears Canada continuing to mount, the Hudson’s Bay Company is facing a much different dilemma.

Several of the Bay’s large shareholders are not demanding management revamp or reinvent its “falling” retail business, but rather release some of its $10-billion real estate portfolio.

Get daily National news

Get daily Canada news delivered to your inbox so you'll never miss the day's top stories.

Sign up for daily National newsletter Get Started

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

This would unlock funds for shareholders, as retail is failing to show a return to investors.

Unlike Sears, which sold off key real estate assets, HBC has major investors who bought into the company for its premium real estate holdings, which include two buildings in New York City with a combined value close to $4.4 billion.

At this point, they seem to be focused on monetizing their properties and if they can right the retail business — which may be doubtful — it would just be icing on the cake.