TORONTO — After a week spent seeking a lifeline, an Ontario court has given Canada’s oldest company permission to start liquidating all but six of its stores on Monday. The Friday approval from Ontario Superior Court judge Peter Osborne allows the retailer to begin selling off inventory at most of its 80 Hudson’s Bay stores, […]
An Ontario court approved Hudson's Bay to liquidate all but six of its stores starting Monday, after the company sought a lifeline to avoid closing all locations. The move, which could save some jobs, follows better-than-expected sales triggered by the looming liquidation. The company will also start a sales process for assets like leases. The six stores being saved include the flagship on Yonge Street in Toronto, as well as a store in the city’s Yorkdale mall and another farther north in Hillcrest Mall in Richmond Hill, Ont. All liquidating stores will be vacated by June 30, and all sales will be final.
