Report: Hudson's Bay contemplating closing stores

Exterior of Hudson's Bay at Eaton Centre, Yonge and Queen

BNN Bloomberg is reporting Hudson's Bay Company is now looking at the possibility of closing some stores in Canada. The company is also looking to restructure leases with landlords at some of their department stores.

The report indicates there is a $1.74 billion bid from the executive chairman, to take the company private.

While no locations have been named, there's said to be a wide range of stores that are potential targets for restructured lease agreements. A source tells BNN Bloomberg there are no "sacred cows".

Hudson's Bay is the oldest company in North America.