Hudson’s Bay will start selling off all merchandise on Friday at the six stores previously spared from liquidation, effectively ending the retail empire’s reign and significantly dimming the possibility that the business dating back to 1670 will stay alive.
Canada’s oldest company is making the move because “it is unlikely” that it will find a buyer for the remaining locations, Adam Zalev, managing director of Hudson’s Bay’s financial adviser Reflect Advisors, said in an affidavit sent to lawyers Wednesday.
Reached for comment about the latest developments, Hudson’s Bay spokeswoman Tiffany Bourre said she had nothing to add beyond the court documents.
The six stores were excluded from the liquidation, which began at the…
