Iconic Canadian retailer Hudson’s Bay Co. will not confirm nor deny a Wall Street Journal report it’s in talks to buy Neiman Marcus, the struggling U.S. luxury retail chain.

Sources say Richard Baker, chair of HBC and a U.S. real estate mogul, has been interested in acquiring Neiman for a while.

Hudson’s Bay reportedly wants control of the retail chain but does not want to assume its debt.

The Canadian retailer was recently reportedly looking at taking over another retail chain south of the border, Macy’s.