US EditionHudson’s Bay Co. terminates 200 corporate employees as liquidation job losses begin
- Hudson's Bay Company, a 352-year-old retailer, announced on March 21, 2025, that it would be liquidating most of its 80 Canadian stores after filing for creditor protection earlier in March amid mounting debt and operational losses.
- The company's financial troubles stem from increased price sensitivity among consumers and the challenges traditional department stores face in a rapidly evolving, digitally-driven retail environment where e-commerce giants and off-price retailers are gaining dominance.
- The liquidation process, expected to wrap up by June 15 with stores vacated by June 30, involves discounts of 15 to 40 per cent, excluding beauty products, the Stripes collection, and select luxury brands, while the company has already stopped selling gift cards and will cease accepting them after April 6.
- As of Feb. 1, Canadian customers held approximately $24.2 million in outstanding gift cards, and the company's pension plan, with 4,000 active and inactive members as of Dec. 31, 2024, is reportedly "sufficiently funded and is able to satisfy its liabilities".
- This liquidation places 9,364 jobs at risk, primarily in Ontario, and while six stores, including the flagship Yonge Street location in Toronto, are being saved for now, Hudson's Bay lawyer Ashley Taylor stated these locations could eventually be liquidated if a long-term solution isn't found, and employee lawyer Andrew Hatnay reports some staff have been told the company won't pay severance, potentially making this one of the largest mass terminations in the country.
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Hudson’s Bay Cuts 200 Corporate Jobs Effective April 4
Hudson’s Bay says it has notified about 200 of its staff working in corporate roles that their employment will be terminated next week. Company spokesperson Tiffany Bourré says the move is a result of the restructuring process underway at the department store chain after it filed for creditor protection earlier in the month. Court documents filed as part of the creditor protection process show the company had 533 workers in corporate roles at th…
·New York, United States
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Bradford Today+8 Reposted by 8 other sources
Hudson's Bay is liquidating most of its stores. Here's what you need to know
Hudson's Bay has begun liquidating all but six of its stores after the company filed for creditor protection earlier this month.
·Bradford West Gwillimbury, Canada
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