Hudson’s Bay to Begin Liquidation Sales Across Canada
TORONTO — Hudson’s Bay, Canada’s oldest retailer, has received court approval to begin liquidating most of its stores across the country starting Monday.
An Ontario Superior Court judge, Peter Osborne, granted permission on Friday for the retailer—established in 1670—to sell off inventory at the majority of its 80 Hudson’s Bay locations, as well as three Saks Fifth Avenue stores and 13 Saks Off 5th outlets.
Founded as a fur trading company, Hudson’s Bay has long been woven into Canada’s history and culture, known for its iconic multi-stripe wool blankets that have helped generations of Canadians endure harsh winters. The company played a significant role in the country’s early trade networks, famously linked to the voyageurs and Indigenous communities.
“This is the art of the possible, and we are where we are today. In my view, there is no other alternative,” said Justice Osborne.
Six Stores Spared—for Now
While most locations will be affected, six Hudson’s Bay stores will remain open, at least temporarily. These include the flagship store on Yonge Street in downtown Toronto, as well as locations in Yorkdale Mall and Hillcrest Mall in Richmond Hill, Ontario. Three stores in Quebec—at Montreal’s downtown core, Carrefour Laval, and Pointe-Claire—are also set to continue operating.
The liquidation sales, running until June 15, are expected to draw large crowds seeking discounts, though the company has not specified how steep the price cuts will be. Hudson’s Bay will vacate the liquidating stores by June 30.
The company originally planned to close all locations, which would have resulted in the loss of 9,364 jobs. However, stronger-than-expected sales in recent weeks have allowed it to keep six stores running.
“If a solution can be found, there is an opportunity to pull additional stores out of the liquidation,” said Hudson’s Bay lawyer Ashley Taylor. “But if a restructuring solution is not found very quickly, (the six) will be added to the liquidation sale.”
A Struggle for Survival
Hudson’s Bay filed for creditor protection on March 7, citing serious financial difficulties. The company has struggled with declining consumer spending, post-pandemic shifts in shopping habits, and challenges from Canada-U.S. trade tensions. It delayed payments to landlords and suppliers and eventually had to seek emergency financing, which led to its decision to liquidate.
Sales have surged recently, particularly for the company’s signature stripe-patterned products, home goods, and apparel, helping to delay the full closure of all stores.
Despite this temporary reprieve, Hudson’s Bay acknowledges that its future remains uncertain.
Taylor emphasized that the retailer is still working on a long-term financial solution but warned that time is running out. Meanwhile, as liquidation begins, assets such as store leases will also be put up for sale.
For customers eager to take advantage of the discounts, Hudson’s Bay has confirmed that all sales at closing stores will be final.