US EditionGlimmers of hope as deadlines near for Hudson’s Bay
- Hudson's Bay, a 355-year-old Canadian department store, faced a 5 p.m. May 1, 2025 deadline for binding bids on its business and assets as part of creditor protection proceedings.
- The company sought creditor protection in March 2025, attributing its financial challenges to the effects of the COVID-19 outbreak, a decline in foot traffic in urban areas, and escalating trade tensions.
- Several parties, including Canadian Tire, Toronto-based Urbana Corp., and billionaire Weihong Liu, showed interest, with 18 unnamed groups submitting letters of intent for 65 leases.
- Reflect Advisors, the company’s financial adviser, noted "a high level of interest," while Liu expressed a desire "to restore The Bay to its glory" despite no confirmed formal bids being disclosed.
- If no successful bids materialize, Hudson's Bay will continue liquidating its 80 stores and 16 Saks locations, with court approval sought by May 30 and sales expected to conclude by mid-June.
35 Articles
35 Articles
As Deadlines Near for Hudson’s Bay and Its Leases, There Are Glimmers of Hope
The clock is ticking down on two deadlines that may determine the fate of Hudson’s Bay. Anyone interested in buying Canada’s oldest company or assets like the rights to its iconic Stripes brand has until Wednesday at 5 p.m. to submit binding proposals. Those wanting to take on leases held by the 355-year-old department store chain or its sister Saks businesses must make binding bids by Thursday. Both processes began after Hudson’s Bay filed for …
Winnipeg Free Press
In the news today: Deadlines near for Hudson's Bay and its leases
Breaking News, Sports, Manitoba, Canada
Hudson’s Bay Company Owes Over $1.4 Million to Kingston Area Businesses: Court Documents
KINGSTON, Ont. – Hudson’s Bay Co. owes more than $1.4 million to Kingston-area businesses and service providers, according to court documents made public after the retailer filed for creditor protection under federal legislation. The iconic retailer filed for protection under the Companies’ Creditors Arrangement Act in March. Kingston-based creditors are listed as unsecured, meaning they are lower in priority than secured creditors when it comes…
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