Hudson’s Bay Co. missed April payments on two commercial mortgage-backed securities, signaling the retail industry’s woes are spreading to debt markets, Bloomberg News reported. The securities, part of $696 million in financing for Saks Fifth Avenue and other stores, were current until this month when the company missed interest-only debt payments totaling $3.2 million, according to data compiled by Bloomberg. Neiman Marcus Group Ltd. missed payments on some bonds this month, according to a letter from an investor. J.C. Penney Co. also skipped an interest payment and huddled with advisers, with bankruptcy among the options under discussion. Macy’s Inc., which has furloughed workers and shuttered stores, is exploring a rescue financing deal to shore up its liquidity. Almost 11 percent of retail CMBS loans were as much as 30 days delinquent this month, up from 1.7 percent in March, according to an April 23 report by the CRE Finance Council, a commercial real estate trade group.
