Hudson’s Bay is set to be back in court on Monday morning, where it will seek approval to begin liquidating its entire business, putting more than 9,000 jobs at risk.
The department store, which holds the title of Canada’s oldest company, says it has been forced toward a full liquidation because “exhaustive” efforts haven’t turned up the financing it needs to keep at least some of its empire alive.
Given the company’s financial situation, it wants to conclude the liquidation process by June 15.
But it says it remains optimistic it can drum up capital and find a solution with key stakeholders, particularly its landlord partners, to avoid a full shutdown.
