Hudson's Bay Company has signalled its readiness to take the next major step in its creditor protection and restructuring process, a move that will

North America's oldest corporation has struggled through decades of roller coaster business trends, management changes and repositionings.

Hudson’s Bay laid the groundwork for its creditor protection case when it spun its U.S. Saks locations off into a separate entity last year after it purchased luxury department stores Neiman Marcus and Bergdorf Goodman, essentially saving them from the impending closures now set to engulf HBC in Canada.