Hudson’s Bay Begins Liquidation Sales as Financial Rescue Efforts Falter

Canada’s oldest retailer faces potential closure of all 96 stores by June 15 unless significant new funding or a buyer is secured.

Liquidation sales will begin this week at all 80 Hudson’s Bay stores, 3 Saks Fifth Avenue stores, and 13 Saks Off Fifth locations in Canada.
The company has set a 10- to 12-week timeline for the sales, aiming to conclude by June 15, 2025.
Gift cards will remain valid until April 6, while loyalty points are currently suspended and cannot be redeemed.
Hudson’s Bay has been unable to secure sufficient financing or agreements with landlords to avoid liquidation, despite ongoing efforts to find a buyer or alternative funding.
With over $1.1 billion in secured debt, the retailer is under creditor protection and risks putting more than 9,000 jobs in jeopardy if closure proceeds.