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Trading of Hudson’s Bay shares halted on Toronto Stock Exchange


Trading of Hudson’s Bay Co. shares has been temporarily suspended on the Toronto Stock Exchange.

The halt follows a tumultuous couple of months for the retailer.

In September, an activist investor in Hudson’s Bay threatened to seek the removal of company directors unless it unlocked the substantial value in its real estate holdings.

Last month, the company sold off its storied Lord & Taylor property in the heart of New York City.

As part of the $ 1.6 billion deal, Hudson’s Bay will lease out office space in its other locations, including floors of its downtown Toronto and Vancouver stores.

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Earlier in the week, the retailer said it may sell its downtown Vancouver property.


TORONTO STAR