As Hudson’s Bay continues to work through liquidation and restructuring plans in an Ontario court, documents have revealed that the department store plans to pay up to $3 million in retention bonuses to some managers and executives. In court documents filed earlier this month, the retailer asked that nearly $3 million be set aside for…
Open this photo in gallery: A sign outside the downtown Hudson’s Bay store in Vancouver on March 24. The retailer was back in Toronto court on Wednesday for the latest on its liquidation processDARRYL DYCK/The Canadian Press Hudson’s Bay Co. was in court again on Wednesday, seeking approval for an agreement with its senior lenders…
Breadcrumb Trail Links News Retail & Marketing Work The Bay owes more than $950 million to its creditors, which includes banks, big clothing brands and other businesses Get the latest from Naimul Karim straight to your inbox Sign Up Published Mar 25, 2025 • Last updated 23 hours ago • 4 minute read You can save…
Hudson’s Bay asked an Ontario court Wednesday to approve a restructuring agreement that will give it a few extra days timeline to save the six stores it has so far spared from liquidation. A new version of the agreement will force the retailer to start liquidating those stores on April 8 — if it hasn’t found a…
The UK Supreme Court’s recent decision in El-Husseini and another v Invest Bank PSC [2025] UKSC 4 has clarified the circumstances in which section 423 of the Insolvency Act 1986 (the Act) provides protection against attempts by debtors to “defeat their creditors and make themselves judgment-proof”. This is a critical decision for insolvency practitioners, any corporate or…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Barun Mitra (Technical Member) has held that a fresh period of limitation under Section 18 of the Limitation Act, 1963 (Limitation Act) for the purpose of filing an application under section 7 of the Insolvency and Bankruptcy…
TORONTO — Canada’s oldest company will begin liquidating most of its stores this morning. Hudson’s Bay says all but six of its locations will be selling off their inventory. The company is aiming to wrap up the liquidation by June 15. Gift cards will be accepted until April 6, but loyalty points cannot be used.…
Garment and fabric printer Direct on Demand Print managing director Matthew Armitage has called himself “the biggest loser” of his business’ failure after the firm entered liquidation on 7 March. Direct on Demand Print (DODP) ceased trading on 24 January, with Armitage confirming a number of redundancies were made the same day. Liquidators Mark Tailby…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that an order passed by the Adjudicating Authority after considering all necessary materials essential for determining the issue cannot be recalled. Therefore, it cannot be said…
Business conglomerate Adani Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group‘s flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, through an order…