A chapter that started in 1670 could be coming to a close as Canada’s oldest company possibly will begin store-by-store liquidation.
Hudson’s Bay Company ULC, which includes Hudson’s Bay and TheBay.com, filed documents late last week with the Ontario Superior Court of Justice to liquidate the business. According to the filed documents the liquidation request is despite efforts to secure sufficient financing to go forward with a restructuring transaction under the Companies’ Creditors Arrangement Act.
A release from the company reads, “This alternative would necessitate significant capital and immediate and substantial cooperation from landlords and other critical partners.”
The release adds the closure of the Hudson Bay…
