An Ontario court has given Canada’s oldest company permission to liquidate all but six of its stores starting on Monday.
The approval from Ontario Superior Court judge Peter Osborne allows Hudson’s Bay to begin selling off inventory at the bulk of its 80 stores. The retailer also owns three Saks Fifth Avenue stores and 13 Saks Off 5th locations in Canada through a licensing agreement.
The six stores being saved from the liquidation sale include the flagship location on Yonge Street in Toronto, as well as a store in the city’s Yorkdale mall and another at Hillcrest Mall in Richmond Hill, Ont. The remaining three span Montreal, the Carrefour Laval mall and Pointe-Claire, Que.
More to come
