One of the oldest stores in St. Albert Centre and the oldest company in North America is set to go into liquidation as early as this week.
The company filed for creditor protection on March 7 as it was struggling to pay its bills due to reduced customer demand from the pandemic, online sales, and the Canada–U.S. trade war, court documents show.
The company has proposed to liquidate all 80 of its Hudson’s Bay outlets, its three Saks 5th Avenue stores, and its 13 Saks OFF 5th outlets by June 15, 2025, with the court’s approval. The move would put nearly 9,400 people out of work (1,229 in Alberta) and shutter the Hudson’s Bay outlet in St. Albert Centre.
A ruling on the liquidation was pending as this story went to…
