North America's Oldest Firm Meets Its End. Some Argue Its Fate Was Avoidable
Hudson's Bay Co. ULC, a company that's so old it once played a central role for goods traders in Britain's North American colonies, is being stripped for parts.
The retailer, currently under bankruptcy protection in Canada, had devised a plan to rescue six of its 96 stores from liquidation, including its flagship location in one of the biggest shopping hot spots in downtown Toronto. But that plan has run aground and those locations are now being wound up too, and the company's 17th-century artifacts are being auctioned off.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
28 minutes ago
- Yahoo
Papa John's Stock Jumps on News of Possible Go-Private Deal
Shares of Papa John's jumped Wednesday on the news that the pizza chain might be taken private. Papa John's International (PZZA) stock finished the session up 7.5%, after rising as much as 15% earlier in the day to its highest level since November. A Semafor report said that asset manager Apollo and Irth Capital Management have bid to take the company private in a deal valuing it at about $2 billion. Papa John's market capitalization is around $1.6 billion, according to Visible Alpha. Irth Capital, which is associated with Qatar's royal family, as well as Apollo and Papa John's, did not respond to Investopedia's requests for comment in time for publication. Papa John's in early May reported first-quarter North American comparable-store sales that were down year-over-year. Its shares' value has risen more than a quarter this year, climbing off April lows. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
37 minutes ago
- Yahoo
Farmina Opens First U.S. Manufacturing Facility in Reidsville, North Carolina
Family-Owned Italian Pet Food Company Invests $115M Creating Hundreds of Jobs in Rockingham County REIDSVILLE, N.C., June 11, 2025 /PRNewswire/ -- Farmina Pet Foods, a global leader in premium pet nutrition, officially opened its first U.S.-based manufacturing facility in Reidsville, North Carolina marking a major milestone in the company's 50-year history. While new to U.S. manufacturing, Farmina has served North American pet owners for more than a decade, delivering premium pet food made with European ingredients, upheld by rigorous standards and cutting-edge technology. The 150,000-square-foot state-of-the-art manufacturing facility, located at 248 Sands Road, Reidsville, represents a $115 million investment and is expected to create 200 new jobs over the next five years, with 75 positions already filled. New roles include machine operators, veterinarians, chemical technicians, shipping clerks, maintenance technicians, managers, and supervisors. To celebrate Farmina's investment in the local and state economies, North Carolina State Senator Phil Berger, Assistant Commissioner for Consumer Protection, NC Department of Agriculture Chrissy Waggett, Chairman of the Rockingham County board of Commissioners Kevin Berger, and Mayor of Reidsville Donald Gorham, attended the official opening of the facility on June 11, 2025. Senator Phil Berger welcomed the expansion, stating "Farmina's decision to establish its U.S. operations in North Carolina is a strong endorsement of our skilled workforce and our growing reputation as a business-friendly hub for modern, innovative manufacturing." He continued, "We're thrilled to welcome this world-class technology to our great state and proudly open our arms to Farmina as they join our business community." The company's strategic investment in North Carolina is expected to contribute millions of dollars to the state's economy. Farmina's decision to manufacture in the U.S. allows the company to localize production, serving the growing North American market faster and more sustainably. Farmina sets a new standard in the American-based pet food industry with respect to quality and technology. This expansion brings unmatched excellence in manufacturing technology, quality of ingredients and European food safety and nutrition standards that adhere to and far exceed U.S. regulations. Through the production output of this new facility, Farmina sets a new standard of pet care for consumers across North America. "As Italians, family is at the heart of everything we do – and that includes our pets," said Loris Rinaldi, CEO of Farmina Pet Foods North America. "This belief drives us to create the highest quality nutrition for our four-legged family members. With our new Reidsville facility, we're proud to bring European standards, premium ingredients, and personalized support to pet parents across the U.S." The high-tech facility was years in the making and supported by a coalition including the North Carolina Department of Commerce, Rockingham County, the City of Reidsville, Duke Energy, and the Economic Development Partnership of North Carolina (EDPNC), with assistance from the state's Job Development Investment Grant (JDIG). To learn more about Farmina and its premier nutritional pet food products, visit: About Farmina Pet FoodsFarmina Pet Foods is a family-owned company that combines nature and science to create the most nutritious, all-natural, and scientifically validated pet food. With over 50 years of expertise, Farmina is dedicated to improving the well-being of pets by using carefully selected raw ingredients that meet the nutritional needs of dogs and cats. Guided by the philosophy of "Happy Pet, Happy You," Farmina ensures its products are free from GMOs, preserved using natural methods, and developed in collaboration with leading research institutions, such as Cornell University. Farmina goes beyond nutrition by offering personalized services to pet parents, including expert nutritional consultations and tailored meal plans to support pets at every stage of life. With North American headquarters in Reidsville, NC, Farmina provides pet families with specialized food lines, such as Farmina Vet Life and Natural & Delicious, all designed to promote the health and happiness of pets. View original content to download multimedia: SOURCE Farmina Pet Foods Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Inflection Point Acquisition Corp. III Announces the Separate Trading of its Class A Ordinary Shares and Rights, Commencing on or about June 16, 2025
NEW YORK, June 11, 2025 (GLOBE NEWSWIRE) -- Inflection Point Acquisition Corp. III (Nasdaq: IPCXU) (the 'Company') announced that holders of the units sold in the Company's initial public offering of 25,300,000 units, which includes 3,300,000 units issued pursuant to the exercise by the underwriters of their overallotment option, completed on April 28, 2025 (the 'Offering') may elect to separately trade the Class A ordinary shares and rights included in the units commencing on or about June 16, 2025. Any units not separated will continue to trade on The Nasdaq Global Market under the symbol 'IPCXU', and each of the Class A ordinary shares and rights will separately trade on The Nasdaq Global Market under the symbols 'IPCX' and 'IPCXR,' respectively. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the units into Class A ordinary shares and rights. The Company intends to pursue a business combination with a North American or European business in disruptive growth sectors, which complements the expertise of its management team, but may pursue an initial business combination in any industry, sector or geographic region. The company is led by Chairman and Chief Executive Officer Michael Blitzer, Chief Financial Officer Peter Ondishin and Chief Operating Officer Kevin Shannon. A registration statement relating to the securities was declared effective on April 24, 2025 in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Cautionary Note Concerning Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements,' including with respect to the Company's search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the initial public offering filed with the SEC. Copies are available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. About Inflection Point Acquisition Corp. III Inflection Point Acquisition Corp. III's acquisition and value creation strategy is to identify, partner with and help grow North American and European businesses in disruptive growth sectors, which complements the expertise of its management team. However, the Company may pursue an initial business combination in any industry, sector or geographic region. Contact Kevin ShannonInflection Point Acquisition Corp. IIIkevin@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
