Canada’s oldest retailer, Hudson’s Bay, has filed for creditor protection and intends to restructure the business.

The department store company that dates back to 1670 announced the move Friday evening, saying it has been facing “significant” pressures, including subdued consumer spending, trade tensions between the U.S. and Canada and post-pandemic drops in downtown store traffic.

https://www.msn.com/en-ca/news/canada/hudson-s-bay-seeks-creditor-protection-plans-to-restructure-business/ar-AA1AtUd7?