Closure of Hudson's Bay in Netherlands now official

Hudson’s Bay is set to leave the Netherlands at the end of this year, reports Dutch tv channel NOS. 1400 people are to lose their jobs.

Confirmation finally comes

The closure had already been announced by various media and confirmed by the trade unions, but according to the department store chain itself, no final decision had yet been taken on the fate of the 15 Dutch stores. Yesterday, though, Hudson’s Bay finally announced that the company will leave the Netherlands at the end of this year.

Last quarter, the department store chain recorded a loss of EUR 317 million, EUR 47 million of which was from the European stores. It is unclear what proportion of this is down to the Dutch stores. Hudson’s Bay arrived in the Netherlands two years ago, but is not able to continue, with retail experts particularly questioning the unclear positioning of the retail chain.

Trade Union are satisfied

Yesterday, employees were also informed. According to trade union CNV Vakmensen, Hudson’s Bay has worked out a good social plan, with everyone receiving severance pay and the company also organising a job fair. “In the past, we have seen retail companies that have pulled the plug on operations and have been declared bankrupt. Employees would then be left empty-handed,” said Jacqueline Twerde from CNV Vakmensen.