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4d ago

Hudson’s Bay Begins Final Liquidation of All Remaining Stores

Canada’s oldest retailer, faltering under $1.1 billion in debt, is closing its last six locations while seeking bids for leases and assets by early May.

Sale signage is seen at the Hudson's Bay store in Toronto, Tuesday, April 22, 2025. THE CANADIAN PRESS/Giordano Ciampini
Hudson’s Bay in Park Royal shopping centre in West Vancouver, B.C. on March 27 2025. Hudson’s Bay Company announced on March 21, 2025 that all but six of its locations across Canada would be liquidated after the company filed for credit protection. [Isabella Falsetti/Globe and Mail]
FILE- The Bay's flagship store in downtown Montreal is seen here Thursday, March 10, 2005. Hudson's Bay Company says it's cutting about 825 management and administrative jobs to realign its senior management team Thursday, Nov. 3, 2005.The Toronto-based retailer says the move will simplify its operations and save $45 million a year.
The 1670 royal charter signed by King Charles II establishing Hudson's Bay, is shown on display at the Manitoba Museum where it was loaned to be displayed alongside its permanent collection of Hudson's Bay artifacts, in this 2020 handout photo.

Overview

  • Hudson’s Bay has started clearance sales at its final six stores, including flagship locations in Toronto and Montreal, marking the end of its department-store operations.
  • The retailer, which filed for creditor protection in March, reports a low likelihood of finding buyers to keep these stores open, though bids can still remove them from liquidation.
  • Liquidation sales across 90 other stores have exceeded expectations, generating $235.7 million in revenue between March 15 and April 18.
  • Bids for Hudson’s Bay’s store leases and assets are due by May 1, with 18 potential bidders expressing interest in 65 leases, while 36 leases have drawn no interest.
  • The company is also pursuing approval to auction its historic art and artifact collection, facing calls from Indigenous leaders for transparency and consultation regarding culturally significant items.