Hudson’s Bay Co. is seeking court approval to begin liquidation of all but six of its locations across Canada, starting on Monday, though the retailer is still hoping to save some of its stores.
The faltering retailer has changed its plans for the closing sale – removing the six stores from the process for now – after sales spiked at Bay locations in recent days.
“Sales at the company have exceeded the expectations” of both Hudson’s Bay and the monitor overseeing its creditor-protection proceedings, Ashley Taylor, a lawyer with Stikeman Elliott LLP representing Hudson’s Bay, told the court on Friday morning. It has become clear as a result that the Bay does not need further emergency financing in order to conduct its sale…
