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Hudson’s Bay hopes to keep 6 stores open, begin liquidation in days
An Ontario court approved Hudson's Bay to liquidate all but six of its Canadian stores, starting Monday, after seeking financial lifelines. The liquidation impacts Hudson's Bay, Saks Fifth Avenue, and Saks Off 5th locations, with the company vacating stores by June 30. The six remaining stores include the flagship in Toronto. The move aims to save jobs. The liquidation was triggered by financial difficulties, but recent sales allowed for the partial save. Hudson's Bay has paused its loyalty program, will stop accepting gift cards after April 6, and all liquidation sales are final. The company is searching for backers to rebuild the business and is selling assets like leases.
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