Hudson’s Bay Company, once the oldest retailer in Canada and synonymous with the country’s retail history, has announced plans to fully liquidate its business, marking the potential end of its 355-year legacy. This drastic decision, expected to begin as early as March 18, 2025, is rooted in significant financial distress and follows the company’s failure to secure necessary restructuring funds.
On March 17, lawyers for Hudson’s Bay presented details of their liquidation strategy during proceedings at the Ontario Superior Court of Justice. They indicated the plans encompass not just Hudson’s Bay’s 80 retail stores but also include three Saks Fifth Avenue stores and 13 Saks Off 5th locations across Canada. The…
