MASS closure notices across a slew of stores have sparked bankruptcy fears for a major retailer. It comes as Canadian customers of the retailer Hudson's Bay say the reason given for the temporary closures is "unlikely." Signs across numerous locations told customers that the stores were "closed due to system issues.
" "The current heat wave has caused a strain on HVAC systems in certain Hudson's Bay locations," a company spokesperson told CBC News. "The comfort and well-being of customers and associates remains our top priority," they said before adding that work is being done as quickly as possible to reopen doors. Shuttered locations include sites in Vancouver, West Vancouver, Winnipeg, and Ontario as areas of Canada reached 104F this week.
However, retail officials and customers have seen this as a potential sign of another struggling retailer amid a retail apocalypse of shuttering and bankrupt businesses. Retail analyst Bruce Winder claimed that the latest issues could be a sign of reduced spending with the company potentially "fraying at the edges" behind the scenes. "This is often the case with companies that have a hard time bringing people in, have a hard time selling things — They're in a bit of a downward spiral," he told CBC.
"You start to see things fray at the edges a little." Despite one of the stores in Windsor, Ontario finally re-opening this week after a month of being closed due to air conditioning repairs, another retail official has warned that the situat.