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Breadcrumb Trail LinksNewsRetail & MarketingThe proposed liquidation will extend to the company's e-commerce business, which will continue until its distribution
Company says attempts to secure financing to pursue a restructuring transaction have failed
A prominent Canadian business with a long history tied to that of the country itself 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.
Autoplus Limited, based in Norton, Stockton, entered voluntary liquidation on March 10, leaving customers and staff devastated by the news.
The liquidation resulted in job losses for several employees, while loyal customers have expressed their disappointment at the closure of the long-standing business.
Many have taken to social media to share their frustration and sadness, with some describing the store as a “lifeline” for affordable automotive and camping essentials and mentioning that they were “gutted” at the news.
In a statement that appeared online, the business said: “Autoplus Norton has entered voluntary liquidation as of March 10.
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The proposed liquidation will extend to the company’s e-commerce business, which will continue until its distribution centre empties
Author of the article:
The Canadian Press
Tara Deschamps
Published Mar 17, 2025 • Last updated 19 minutes ago • 5 minute read
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The retailer has already paused its loyalty program, which has 8.2 million Canadian members with about $58.5 million in unused points.Photo by Peter J. Thompson/Postmedia files
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TORONTO — Hudson’s Bay spent Monday in court asking for permission to begin a liquidation of all of its stores as early as Tuesday, even as it…
Hudson’s Bay Company, once the oldest retailer in Canada and synonymous with the country’s retail history, has announced plans to fully liquidate its business, marking the potential end of its 355-year legacy. This drastic decision, expected to begin as early as March 18, 2025, is rooted in significant financial distress and follows the company’s failure to secure necessary restructuring funds.
On March 17, lawyers for Hudson’s Bay presented details of their liquidation strategy during proceedings at the Ontario Superior Court of Justice. They indicated the plans encompass not just Hudson’s Bay’s 80 retail stores but also include three Saks Fifth Avenue stores and 13 Saks Off 5th locations across Canada. The…
TORONTO — Hudson’s Bay was in court Monday, seeking approval to begin a full liquidation even as it fights to stay alive.
After arguments went on hours longer than expected, judge Peter Osborne said he needed time to review the case and would rule later on the liquidation plan.
Here are some key takeaways from Monday’s court hearing.
Which stores are part of the liquidation?
Hudson’s Bay wants to liquidate all 80 stores, as well as the three Saks Fifth Avenue stores and 13 Saks Off 5th locations in Canada that it owns through a licensing agreement.
Hudson’s Bay has 32 locations in Ontario, B.C. hosts 16 locations, Alberta and Quebec each have 13, and Manitoba, Nova Scotia and Saskatchewan have two per province.
A chapter that started in 1670 could be coming to a close as Canada’s oldest company possibly will begin store-by-store liquidation.
Hudson’s Bay Company ULC, which includes Hudson’s Bay and TheBay.com, filed documents late last week with the Ontario Superior Court of Justice to liquidate the business. According to the filed documents the liquidation request is despite efforts to secure sufficient financing to go forward with a restructuring transaction under the Companies’ Creditors Arrangement Act.
A release from the company reads, “This alternative would necessitate significant capital and immediate and substantial cooperation from landlords and other critical partners.”
