Thomson faces possible default on Bay receipts

Article Abstract:

Ken Thomson may face default on instalment receipts in Hudson Bay's Co. The Thomson family holding company was supposed to get C$246.7 from investors in Hudson's Bay. Thomson issued the receipts in 1997 after the family sold 13.2 million shares in Hudson's Bay for $37.75 share. Under the deal, investors get a receipt for a downpayment of $19 with $18.75 to be paid on Oct. 2, 1998. However, Hudson's Bay's share price has dropped since the sale, and it is now trading close to the sale price. Due to this, Thomson may face default on the receipts.

Financial analysis, Hudson's Bay Co.

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Eaton's shedding one-stop image

Article Abstract:

T. Eaton Co. Ltd. of Toronto, Ontario, is eliminating furniture, appliances and electronic goods in most of its department stores. The move is part of the company's plan to transform from a general department store to a fashion retailer. The company intends to become the leading fashion department store in Canada. Meanwhile, according to company spokeswoman Sigi Brough, some of the 600 workers who will be affected by the changes in the two-year makeover will be reassigned to other positions within the chain.

Comment:

Is eliminating furniture, appliances and electronic goods in most of its department stores

Strategy & planning, T. Eaton Company Ltd.

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