A prominent Canadian entity with a presence in Red Deer has announced it will begin a store-by-store liquidation process.
Hudson’s Bay Company ULC, which comprises the retailer Hudson’s Bay and TheBay.com, recently announced it has filed documents with the Ontario Superior Court of Justice indicating that, despite exhaustive efforts to secure sufficient financing to pursue a restructuring transaction under the Companies’ Creditors Arrangement Act (CCAA), it has only secured limited debtor-in-possession financing that will require the full liquidation of the entire business.
There is a Hudson’s Bay location inside the Bower Place mall in Red Deer.
Canada’s oldest company states that it remains hopeful that key…
