US EditionHudson’s Bay heads back to court to seek approval for Canadian Tire deal
- Hudson's Bay will return to Ontario's Superior Court in June 2025 to seek approval for its $30-million deal with Canadian Tire Corp. Ltd. To sell its intellectual property.
- This move follows Hudson's Bay's March 7, 2025, filing for creditor protection and the June 1 closure of all 96 Bay and Saks stores after failing to find investors to sustain the business.
- The intellectual property deal includes the Hudson's Bay name, iconic stripes, Bay Days, Zellers catchphrase 'lowest price is the law', Distinctly Home, and Hudson North apparel line, with Canadian Tire assuming contracts like one with Oregon-based Pendleton Woolen Mills.
- Hudson's Bay received 17 bids on assets, including 13 for intellectual property, with financial adviser Adam Zalev stating Canadian Tire's was the superior bid among 407 invited bidders.
- The approval could reshape major retail and downtown locations, as Hudson's Bay stores spanned unusually large spaces averaging 300,000 square feet, whose closures have caused landlords to explore redevelopment including receivership and repurposing properties.
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Hudson's Bay goes back to court with Canadian Tire deal
TORONTO - Hudson's Bay is expected to return to court Tuesday morning to seek approval for a $30-million deal it signed with Canadian Tire Corp. Ltd. If the deal gets the OK from Ontario's Superior Court, Canadian Tire will be able to buy the rights to Hudson's Bay's intellectual property, which inc...
·Kelowna, Canada
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