Hudson's Bay confirms plans to close Dutch stores by end of year

Canadian retailer Hudson's Bay has confirmed plans to close its Dutch stores by the end of the year.

A total of 15 stores will be closed and 1,424 jobs will be lost.

Hudson’s Bay employees in the Netherlands were informed of the news on Thursday afternoon, according to trade union CNV. "Especially because the adventure lasted so short, the group did not have an obligation to conclude a social plan for any employees," Jacqueline Twerde of CNV said Dutch news site NOS. "We have also seen retailers who pulled the plug in the past and had themselves declared bankrupt. The employees are then left empty handed."

Hudson's Bay opened its first department store outside of Canada in Amsterdam in 2017.

In September, the Canadian retailer announced it is selling luxury department store chain Lord + Taylor to fashion rental subscription service Le Tote in a 100 million dollar deal.

Photo credit: FashionUnited