Liquidation of Hudson's Bay begins at all but 6 stores

Alexandra Mae Jones · CBC News

· Posted: Mar 24, 2025 9:20 AM EDT | Last Updated: 10 minutes ago

Liquidation income are kicking disconnected Monday greeting astatine each but six of Hudson's Bay's locations arsenic the institution continues to hunt for a mode to restructure. 

The six stores presently omitted from the liquidation see the flagship store connected Yonge Street in Toronto, arsenic good arsenic 2 others successful the Greater Toronto Area and 3 successful Quebec, including 1 successful downtown Montreal. 

Canada's oldest institution operates 80 stores, arsenic good arsenic 3 Saks Fifth Avenue stores and 13 Saks Off 5th locations successful Canada done a licensing agreement. 

The institution said liquidation income volition wrapper up by June 15, and that it volition vacate those locations by June 30. All loyalty programs and points person been suspended, but acquisition cards tin inactive beryllium utilized astatine stores until April 6.

Online income done TheBay.com volition proceed up to and including April 15. 

The liquidation comes aft the institution filed for creditor extortion earlier this month, admitting that they were struggling with fiscal difficulties owed to a fig of factors, including a driblet successful downtown store postulation post-pandemic, and that they had already deferred immoderate payments to landlords. 

An Ontario justice gave the institution support connected Friday to statesman liquidation astatine astir of its stores. Hudson's Bay lawyer Ashley Taylor said the institution was permitted to prevention six stores for the clip being due to the fact that caller income person exceeded institution expectations, paving the mode for the continued cognition of those stores arsenic they wage backmost interim financing from a lender. 

WATCH: Memorabilia precocious connected buying lists arsenic Canadians respond to Hudson's Bay liquidation: 

Shoppers person already been flocking to stores to snag products emblazoned with the company's iconic stripes. 

The tribunal bid allows the institution to region much stores from its liquidation if it secures funding, but it besides allows for the six stores presently spared to beryllium added to the liquidation if a restructuring program — which hasn't been established yet — isn't solidified quickly.