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TORONTO — Beleaguered retailer Hudson’s Bay has attracted a bid from Canadian Tire Corp., two sources familiar with the sales process say.
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The sources, who are not being named because they were not authorized to speak about the matter, say the household goods chain has made a bid for some of the faltering department store’s intellectual property.
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Asked whether the company is making a bid, Canadian Tire did not provide a comment.
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Anyone interested in owning Hudson’s Bay assets had until 5 p.m. on Wednesday to make a formal bid as part of the retailer’s creditor protection court case.
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Toronto investment manager Urbana Corp. has made a bid for the company’s intellectual property, while billionaire B.C. mall owner Weihong Liu has said she would make a pitch to run some Bay stores.
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The 355-year-old department store’s assets hit the sales block after Hudson’s Bay filed for creditor protection earlier this year and began liquidating its stores while it hunted for buyers or investors who would keep the company alive.
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More to come …
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