Hudson’s Bay Seeks Court Approval to Begin Store Liquidations Next Week

Canada’s oldest retailer plans to liquidate most of its stores starting March 24, while six locations are temporarily excluded pending potential restructuring agreements.

Hudson’s Bay has requested court approval to start liquidating all but six of its stores across Canada on March 24, with the process expected to conclude by June 15.
Recent sales spikes exceeded expectations, enabling the company to repay $16 million in interim financing and avoid further emergency loans.
Six stores, including flagship locations in Toronto and Montreal, are temporarily exempt from liquidation but may still close if restructuring agreements are not reached soon.
The retailer has reached a restructuring support agreement with its senior lenders and is negotiating with landlords to save additional locations, though no deals have been finalized.
More than 9,300 jobs are at risk as Hudson’s Bay navigates creditor protection proceedings and prepares to vacate properties by June 30 if no viable restructuring plan emerges.