Unless it finds a more viable path forward, it appears an iconic Canadian retailer will be permanently closing its doors.
Hudson’s Bay announced late Friday night it will begin liquidating its entire business as soon as next week, putting more than nine-thousand jobs at risk.
The department store chain, that dates back to 1670, says it’s been forced into a full liquidation after “exhaustive” efforts failed turn up the financing needed to stay alive.
Court filings show the company owes more than $900-million to creditors, landlords and suppliers, including fashion heavyweights like Ralph Lauren, Chanel, Columbia Sportswear and Estee Lauder.
