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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.