KAMLOOPS, British Columbia, March 21, 2025 (GLOBE NEWSWIRE) — The United Steelworkers union (USW) Local 1-417 is calling on Hudson’s Bay (HBC) to put workers first as the company proceeds with the liquidation of its Kamloops store. A closure of this store will result in the loss of over 30 unionized jobs, dealing a significant blow to workers, their families and the community.

“This news is absolutely devastating not only for our members but for the entire city of…

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TORONTO — Hudson’s Bay is due to liquidate all but six of its stores starting on Monday.

Here’s how the process will unfold.

Which stores are part of the liquidation?

Hudson’s Bay wants to liquidate all but six of its stores. It has 80 stores under the Hudson’s Bay banner, as well as the three Saks Fifth Avenue stores and 13 Saks Off 5th locations in Canada that it owns through a licensing agreement.

Those stores are divided between 32 locations in Ontario, 16 in B.C., 13 each in Alberta and…

Hopes that the Federal Reserve would resume its interest rate cut campaign, while dim, were eliminated this week after the bank continued to keep its federal funds rate on pause. And while that inaction was largely anticipated, it did little to help borrowers currently saddled with high interest rates on a variety of products. While a cut to that rate would have done little to alleviate the burden being felt by credit…

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TORONTO — After a week spent seeking a lifeline, Hudson’s Bay says it has found a way to keep six stores open.

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Canada’s oldest company is back in court today to seek permission from an Ontario judge to liquidate all but six stores, and hopes to begin that process starting Monday.

Hudson’s Bay lawyer Ashley Taylor says the company is making the request because recent sales have exceeded the company’s expectations, allowing the retailer to keep operating six of the stores and pay back interim financing it received from a lender.

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The company’s financial troubles have led to a flurry of sales from customers looking to snap up its famed stripes products, for fear the retailer would close…

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