The move stands to save some of the 9,364 jobs that could be lost if the company liquidated all of its stores, which was the plan until Hudson’s Bay said Friday that sales had exceeded its expectations, allowing for it to keep six locations alive.
“If a solution can be found, there is an opportunity to pull additional stores out of the liquidation, but if a restructuring solution is not found very quickly, (the six) will be added to the liquidation sale,” Hudson’s Bay lawyer Ashley Taylor said in court Friday.
The proposal marks a glimmer of hope for the company, which filed for creditor protection on March 7. The filing showed the company was facing significant financial challenges and was…
