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Hudson’s Bay Begins Liquidation Sales as Financial Rescue Efforts Falter

Canada’s oldest retailer faces potential closure of all 96 stores by June 15 unless significant new funding or a buyer is secured.

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People walk past the Hudson's Bay store in Toronto on Monday March 10, 2025.
A Hudson’s Bay store in downtown Calgary on March 10, 2025.
A view of the Hudson's Bay store in Toronto on Monday March 10, 2025. THE CANADIAN PRESS/Chris Young

Overview

  • Liquidation sales will begin this week at all 80 Hudson’s Bay stores, 3 Saks Fifth Avenue stores, and 13 Saks Off Fifth locations in Canada.
  • The company has set a 10- to 12-week timeline for the sales, aiming to conclude by June 15, 2025.
  • Gift cards will remain valid until April 6, while loyalty points are currently suspended and cannot be redeemed.
  • Hudson’s Bay has been unable to secure sufficient financing or agreements with landlords to avoid liquidation, despite ongoing efforts to find a buyer or alternative funding.
  • With over $1.1 billion in secured debt, the retailer is under creditor protection and risks putting more than 9,000 jobs in jeopardy if closure proceeds.