Its European rival lodged a bid for its German store, while its activist investor contested its recent liquidity play. : Just a week after Saks Fifth Avenue-owner Hudson's Bay announced a deal to bolster the company's financial condition, the department store operator came back under fire Wednesday. Austrian investment firm Signa Holding submitted a bid for Hudson Bay's German department store, Galeria Kaufhof. The offer valued the department store at roughly 3 billion euros, according to sources familiar with the situation.