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A liquidation plan at Canada’s oldest company could begin at all of its locations as soon as Tuesday and last for up to 12 weeks, but Hudson’s Bay is still holding out hope that it will find a lifeline.
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Forever 21 files for bankruptcy again, to start liquidation sales MSN
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Hudson’s Bay’s current plan will see it stop accepting gift cards after April 6
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Published Mar 17, 2025 • Last updated 19 minutes ago • 4 minute read
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A Hudson’s Bay store in downtown Calgary on March 10, 2025.Amir Salehi/The Globe and Mail
Hudson’s Bay Co. is beginning liquidation sales this week. Here is what shoppers need to know about the process.
When and where are the sales happening?
The company will begin the process as early as Tuesday, lawyers for the retailer said during a court hearing on Monday. That will mean inventory clearance sales at all 80 Hudson’s Bay stores across the country, and also at three Saks Fifth Avenue and 13 Saks Off Fifth stores that the company operates in Canada.
Hudson’s Bay is continuing to look for a buyer for all or part of the business, and could withdraw stores from the liquidation process if alternatives emerge.
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Food delivery giant Zomato is facing an insolvency plea from uniform supplier Nona Lifestyle, alleging unpaid dues of Rs 1.64 crore, as reported by Bar and Bench on March 17.
The National Company Law Tribunal (NCLT) has adjourned the case to April 3, requesting the petitioner to clarify its next steps.
According to the report, B2B apparel manufacturer Nona Lifestyle has approached the NCLT to initiate the corporate insolvency resolution process (CIRP) against Zomato over alleged non-payment for supplied uniforms and merchandise, including ICC World Cup 2023 apparel.
Claims of unpaid dues
Nona Lifestyle claimed that Zomato placed multiple orders in 2023 for rider uniforms, trousers, and World Cup jerseys. Zomato is accused of delaying…
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MUMBAI: Shares of Ola Electric Mobility fell over 7% to hit a record low on Monday after the company reported that one of its units faced an insolvency petition.
Shares of the electric two-wheeler maker ended at Rs 46.9, down 7.2% over its previous close. At the last close, the company was valued at Rs 20,687 crore.
Rosmerta Digital Services, a vehicle registration service provider and a creditor of Ola Electric Technologies, filed a petition against the Ola unit alleging default in payments.
The petition has been presented to the Bengaluru Bench of the National Company Law Tribunal, claiming that there has been a default in payments owed for services provided by the operational creditor and requesting the commencement of the corporate…
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TORONTO — A liquidation plan at Canada’s oldest company could begin at all of its locations as soon as Tuesday and last for up to 12 weeks, but Hudson’s Bay is still holding out hope that it will find a lifeline.
Lawyers for the beleaguered retailer said in an Ontario court Monday morning that if approved by the judge, the liquidation would span 80 stores as well as three Saks Fifth Avenue stores and 13 Saks Off 5th locations in Canada that it owns through a licensing agreement.
The process Hudson’s Bay is proposing would allow the retailer to remove some stores from the liquidation, should it find sufficient financing during the 10 to 12 weeks when lawyer Ashley Taylor expects the company to offload its inventory.
“A…
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Published Mar 17, 2025 • 4 minute read
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By Tara Deschamps
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TORONTO — A liquidation plan at Canada’s oldest company could begin at all of its locations as soon as Tuesday and last for up to 12 weeks, but Hudson’s Bay is still holding out hope that it will find a lifeline.
Lawyers for the beleaguered retailer said in an Ontario court Monday morning that if approved by the judge, the liquidation would span 80 stores as well as three Saks Fifth Avenue stores and 13 Saks Off 5th locations in Canada that it owns through a licensing…
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New Delhi, Mar 17 (PTI) Food delivery aggregator Zomato may face an insolvency plea as one of its operational creditors has moved the National Company Law Tribunal (NCLT), seeking restoration of its previous petition.
Nona Lifestyle Pvt Ltd, an operational creditor, has moved NCLT requesting to restore an insolvency plea filed by it earlier against Zomato Ltd under Section 9 of the Insolvency & Bankruptcy Code in 2024.
In 2024, NCLT had dismissed it due to non-prosecution and now Nona Lifestyle has requested to restore its old petition.
It has filed an application under Rule 11 of NCLT Rules, 2016, which provides the tribunal inherent power that can also be used for restoration purposes.
It has requested…
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Choosing a debt consolidation lender: How to find the best KATV
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Hudson’s Bay liquidation of all stores could start as soon as Tuesday CTV News