Hudson’s Bay Set to Liquidate After 355 Years in Operation

Canada’s oldest retailer awaits court approval to begin liquidation sales, with 9,300 jobs and its historic legacy at stake.

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.