A Hudson’s Bay store in downtown Montreal on March 17.Christinne Muschi/The Canadian Press
Liquidation sales remain on hold at Hudson’s Bay Co., as it continues talks with its landlords and lenders to determine a plan for the company’s next steps.
Canada’s oldest retailer was granted protection from its creditors under the Companies’ Creditors Arrangement Act (CCAA) on March 7, as it scrambled to find financing to keep its operations afloat. Initially, Hudson’s Bay was hoping to find a solution that would keep roughly half of its 80 department stores open.
But late last week, the company announced that it had secured only enough financing to support a full liquidation of the entire chain, as well as 16…
