People walk by a Hudson’s Bay store.Isabella Falsetti/The Globe and Mail
Hudson’s Bay Co. is seeking court approval to repay millions owed to its senior lenders, as the retailer’s liquidation sales continue to clear out its stores across the country.
The company plans to repay up to approximately $165-million outstanding under two credit facilities, according to court documents filed on Wednesday.
Faltering under $1.1-billion in debt and mounting losses, Hudson’s Bay was granted court protection from its creditors on Mar. 7 under the Companies’ Creditors Arrangement Act.
In late March, the company began clearance sales at 74 Hudson’s Bay stores, as well as two Saks Fifth Avenue and 13 Saks Off Fifth…
