HUDSON'S BAY EXPLORING KMART ACQUISITION
By Adnews Staff
Hudson's Bay Co. of Toronto is preparing to make a bid for 36 Kmart Canada Ltd. stores, and is also looking at picking up 10 of troubled retailer Eaton's outlets, according to a report in The Globe and Mail. The article was based on comments from outgoing Bay president George Kosich. The 10 Eaton's outlets would be added to Hudson Bay's discount retail chain Zellers. Kmart Canada's parent, U.S.-based Kmart Corp. has put the 123-store chain up for sale. A U.S. investor group had previously expressed interest in the Canadian division's assets, but is still awaiting approval from the federal government.
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