Hudson’s Bay hopes to save six stores, begin liquidation process Monday
- Hudson's Bay received court approval to liquidate all but six of its stores in Canada due to financial difficulties stemming from reduced consumer spending and trade tensions between Canada and the U.S.
- The liquidation follows a creditor protection proceeding initiated by Hudson's Bay, which aimed to close all stores but allowed six locations to remain open after a surge in sales.
- The company aims to complete the liquidation by June 15, with over 9,000 jobs at risk, marking a significant change in the Canadian retail landscape.
- Shoppers are expressing sadness over the closure, viewing it as the end of a legacy intertwined with Canadian history, as the store first opened in 1670.
109 Articles
109 Articles
Hudson’s Bay likely to find lots of buyers for assets like leases, stripes: experts
TORONTO - As Hudson’s Bay continues to seek ways to stabilize and restructure what little will soon be left of its ailing business, it’s opening itself up to selling its assets.
Historic Hudson’s Bay liquidates stores across Canada, including Kamloops location
KAMLOOPS — The Hudson’s Bay Company has announced the liquidation of all but six of its famous department stores. The Kamloops location, a staple of the city for more than 200 years, is not included in the remaining six. “A majority of these people have put in their lives at Hudson Bay,” said Jordan Lawrence, Financial Secretary at USW Local 1-417. Aberdeen Mall employees have been kept in the dark about the closure and have yet to receive conf…
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