Hudson’s Bay points program paused, customers will just ‘lose’ them, analyst predicts
Global News
Retail analyst Bruce Winder said he can't see a situation where Hudson's Bay could honour everyone's points unless it receives some financing before May 1.
Millions of Canadians are members of the Hudson’s Bay loyalty points program.
And now the future of those points is in jeopardy.
“It’s a big loyalty program,” Bruce Winder, a retail analyst told Global News. “I believe it has $58 million of liabilities on it.”
“I think honestly what’s going to happen is people are just going to lose their points.”
Canada’s oldest company, Hudson’s Bay, could soon permanently close its doors to customers as it runs out of business more than 350 years after it began.
Financial struggles in an ever-changing retail landscape have pushed the company to the brink as it awaits court approval to liquidate all of its stores across the country.
The case is still being considered by the Ontario Superior Court. If approved, a store-by-store liquidation process could begin as early as this week, Hudson’s Bay Company says.
Now, customers are unable to redeem or earn points as the program is paused.
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