Two of Canada's last standing department stores don't seem interested in taking over the almost 90 stores Hudson's Bay and its sister businesses Saks will soon vacate.
Holt Renfrew spokesperson Adam Grachnik says the luxury retailer is not considering making a play for the Bay or Saks leases.
La Maison Simons CEO Bernard Leblanc similarly says his company has no new announcements planned.
While Leblanc says Simons is always up for a challenge and is carefully analyzing all potential opportunities, he says the company is patient and its goal isn't to be the biggest retailer.
J-C Williams Group retail strategist Lisa Hutcheson says taking over one or two Hudson's Bay sites may be something to consider for either of those retailers "down the road," because the locations are in prime shopping districts and may be more affordable to obtain because the Bay is in creditor protection.
However, she warns that Canada only has so much population to support the Bay's big store footprints and that would be a costly undertaking, even for established players like Simons and Holt Renfrew.