Richard Baker news and archive

Richard Baker: The man who couldn't save Saks and Hudson's Bay

In the turmoil surrounding iconic North American department stores, one name has repeatedly surfaced in recent months: Richard Baker. Under the leadership of the current Galeria investor, the Canadian department store chain Hudson’s Bay was forced to close after more than 355 years, and the luxury department store group Saks Global filed for...

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Hudson’s Bay Company agrees to takeover bid from Baker-led group

Hudson’s Bay Company (HBC) has announced that, it has entered into a definitive arrangement agreement with a group of HBC shareholders backed by Executive Chairman Richard Baker, to take the Company private. The company said in a statement that the shareholder group, who collectively owns approximately 57 percent of the common shares, will be...

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HBC in talks to go private

After shuttering Lord & Taylor, selling off Gilt, and working to keep Saks competitive in an increasingly crowded retail field with more luxury e-commerce players popping up, Hudson's Bay Co. is now considering going private. Richard Baker, the executive chairman of Saks, is now leading a bid to take the retail company private. Baker, along with...