The fall of Hudson’s Bay and Saks Fifth Avenue Canada may give the impression that one of the hottest trends this year is the distressed look, but retail and insolvency experts say the company’s demise is part of a now-annual pitter-patter they expect to continue.
Since the COVID-19 pandemic, they’ve seen hundreds of retail businesses reach the brink every year. As a result, some restructured, others reduced their store count—and many closed for good.
