Toronto – Canada’s oldest company will begin going-out-of-business proceedings for nearly all of its 80 Hudson’s Bay stores today.
Hudson’s Bay Company ULC, the Canadian entity comprising the retailer Hudson’s Bay and TheBay.com, has been given permission by the temporarily permission by the Ontario Superior Court of Justice to exclude six stores from the initial list.
The pause will give the company time to negotiate with landlords and stakeholders about restructuring the business. Those locations include:
- Downtown Queen Street, 176 Yonge Street, Toronto, ON
- Yorkdale Shopping Center, Toronto, ON;
- Hillcrest Mall, Richmond Hill, ON;
- Downtown, Montreal, QC;
- Carrefour Laval, Laval, QC;
- Pointe-Claire, QC.
Hudson’s Bay filed for creditor protection on March 7. While store liquidations take place, the bay.com continues to operate.
Through a licensing agreement, three Saks Fifth Avenue and 13 Saks OFF 5TH stores also operate in Canada under Hudson’s Bay Company ULC. They are also slated to close.
See also:
- Hudson’s Bay’s iconic Point Blanket will no longer be a money-maker – at least not for the retailer
- Hudson’s Bay Company pumps the brakes on privatization push