Canadian department store group Hudson’s Bay posted debts of €73.8m on its adventure in the Netherlands last year, and owes its suppliers, landlords and other debtors €86m, according to the first bankruptcy report on the Dutch arm of the company.

Hudson’s Bay came to the Netherlands in 2017, moving into many of the city centre locations left empty when the Dutch department store group V&D went bust.

The company also posted losses in the Netherlands of some €200m, the Financieele Dagblad reported. The company has not commented on the claims, stating only that the Dutch operation ‘under performed’.

The company filed for bankruptcy on December 31, after confirming in late September that it would pull out of the Netherlands.

The company’s €86m debt does not include unpaid taxes and the 1,400 members of staff were paid their December salaries and given a pay-off for losing their jobs, the FD said.