Overview

• Hudson’s Bay Company is seeking court approval to start liquidating its inventory and assets across 80 Hudson’s Bay stores, 3 Saks Fifth Avenue stores, and 13 Saks Off Fifth locations in Canada.
• The liquidation process could begin as early as March 18, 2025, and is expected to last 10 to 12 weeks, concluding by June 15.
• The company has secured $23 million in financing, which is insufficient for restructuring and will only support liquidation efforts.
• The closures will result in the loss of 9,300 jobs, the suspension of its loyalty program, and the expiration of gift cards by April 6.
• Owner Richard Baker’s focus on real estate over retail operations is cited as a key factor in the company’s demise, alongside subdued consumer spending and post-pandemic challenges.