{"id":40846,"date":"2025-06-29T23:55:46","date_gmt":"2025-06-30T03:55:46","guid":{"rendered":"https:\/\/ckms.ca\/?p=40846"},"modified":"2025-06-30T00:04:26","modified_gmt":"2025-06-30T04:04:26","slug":"zombie-firms-hudsons-bay-among-canadian-businesses-that-are-severe-drag-to-economy","status":"publish","type":"post","link":"https:\/\/blog.ckms.ca\/?p=40846","title":{"rendered":"\u2018Zombie firms\u2019: Hudson\u2019s Bay among Canadian businesses that are \u2018severe drag\u2019 to economy"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"hoverZoomLink alignright\" src=\"https:\/\/blog.ckms.ca\/wp-content\/uploads\/2025\/06\/XCFMUJ6LXQIIQDFGIAAKAU62SY.jpg\" alt=\"\" width=\"284\" height=\"149\" \/><span style=\"font-size: inherit;\">Hudson\u2019s Bay was a &#8216;zombie firm&#8217; that was struggling to keep the lights on for years before its inevitable shuttering, one expert says \u2013 and Canada is home to many more.<\/span><\/p>\n<p>Source: <em><a href=\"https:\/\/www.ctvnews.ca\/business\/article\/zombie-firms-hudsons-bay-among-canadian-business-that-are-severe-drag-to-economy\/\" target=\"_blank\" rel=\"noopener\">\u2018Zombie firms\u2019: Hudson\u2019s Bay among Canadian businesses that are \u2018severe drag\u2019 to economy<\/a><\/em><\/p>\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>from the <a href=\"https:\/\/www.reddit.com\/r\/canada\/comments\/1lnrvb4\/comment\/n0hg1ne\/\" target=\"_blank\" rel=\"noreferrer noopener\">reddit\/r\/canada<\/a> thread:<span class=\"collapseomatic \" id=\"id69d5facd1d533\"  tabindex=\"0\" title=\"\"    ><\/span><div id=\"target-id69d5facd1d533\" class=\"collapseomatic_content \">this is an example of the gold that i find at reddit (or fark, and previously boingboing, etc)<\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/blog.ckms.ca\/wp-content\/uploads\/2025\/06\/image-7.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/blog.ckms.ca\/wp-content\/uploads\/2025\/06\/image-7.png\" alt=\"\" class=\"wp-image-40849\" width=\"607\" height=\"491\" srcset=\"https:\/\/blog.ckms.ca\/wp-content\/uploads\/2025\/06\/image-7.png 961w, https:\/\/blog.ckms.ca\/wp-content\/uploads\/2025\/06\/image-7-300x243.png 300w, https:\/\/blog.ckms.ca\/wp-content\/uploads\/2025\/06\/image-7-768x623.png 768w, https:\/\/blog.ckms.ca\/wp-content\/uploads\/2025\/06\/image-7-675x547.png 675w\" sizes=\"auto, (max-width: 607px) 100vw, 607px\" \/><\/a><\/figure><\/div>\n\n\n\n<span class=\"collapseomatic \" id=\"id69d5facd1d58c\"  tabindex=\"0\" title=\"&lt;&lt;&lt; click to see searchable &amp; copy\/pastable as text\"    >&lt;&lt;&lt; click to see searchable &amp; copy\/pastable as text<\/span><div id=\"target-id69d5facd1d58c\" class=\"collapseomatic_content \">\n\n\n\n<p>In Brief:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>According to Statistics Canada, the term \u201czombie firm\u201d is used to describe economically underperforming businesses which are being kept alive by government and bank loans.<\/strong><\/li><li>Tom Goldsmith, founder and principal of Orbit Policy told BNN Bloomberg that many retail outlets have not responded innovatively in the face of competition. &nbsp;Goldsmith describes them as \u201cmature firms that persist and are a severe drag to our economy.\u201d<\/li><li>A StatCan report from 2023 says zombie firms have been increasing over the past few decades in advanced economies like Canada\u2019s, claiming that they influence the national productivity, subdue wages and restrain the growth of healthy firms.<\/li><li><strong>The report claims that between 5-7% of all Canadian businesses are zombies, which could potentially be the highest in the world.<\/strong><\/li><li>\u201c&#8230;the share of zombies among publicly traded firms has steadily increased,\u201d the report said, adding that between 18 to 36 per cent are publicly traded firms that fit the description of the zombies \u2013 most prevalent in the mining, oil and gas extraction sector.<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n<p>insert the standard rant about <a href=\"https:\/\/blog.ckms.ca\/?p=26431\" data-type=\"post\" data-id=\"26431\" target=\"_blank\" rel=\"noreferrer noopener\">the text\/graphics dichotomy.<\/a>..<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hudson\u2019s Bay was a &#8216;zombie firm&#8217; that was struggling to keep the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282],"tags":[84,18,140,209],"class_list":["post-40846","post","type-post","status-publish","format-standard","hentry","category-article","tag-canada","tag-economics","tag-paul","tag-zombies","wpcat-282-id"],"_links":{"self":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts\/40846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40846"}],"version-history":[{"count":8,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts\/40846\/revisions"}],"predecessor-version":[{"id":40856,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=\/wp\/v2\/posts\/40846\/revisions\/40856"}],"wp:attachment":[{"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.ckms.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}