HBC, founded in 1670, is Canada’s oldest company and has played a defining role in the nation’s history from the fur trade to the modern department store era.
But now, with mounting debt and unsuccessful attempts to secure new investment, the retailer is preparing for a possible full-scale liquidation of its 80 Hudson’s Bay stores, as well as its three Saks Fifth Avenue and 13 Saks Off Fifth locations in Canada.
However, the company is still seeking a last-minute rescue. If a buyer or new investor steps forward during the liquidation process, some stores could be removed from the sell-off.
“What we do know is that we need to bring in additional capital to make it possible,” HBC lawyer Ashley Taylor told the court. “And we…
