Hudson’s Bay to Launch Liquidation Sales at Final Six Locations

TORONTO — Hudson’s Bay is expected to begin liquidation sales at its final six locations today, as the historic retailer continues the wind-down of its operations amid mounting financial pressure.

According to a recent court filing from the company’s financial adviser, the selloff will proceed due to the “low probability” of securing a buyer for the remaining stores.

Among the locations slated for closure are the flagship store on Yonge Street in downtown Toronto, as well as stores at Yorkdale Shopping Centre and Hillcrest Mall in Richmond Hill, Ont.

In Quebec, liquidation will also begin at stores in downtown Montreal, Carrefour Laval, and Pointe-Claire. One Saks Fifth Avenue store has also been added to the list.

Last month, Hudson’s Bay obtained court approval to liquidate 90 of its 96 Bay, Saks, and Saks Off Fifth stores by mid-June, while continuing its search for investors or buyers who could rescue parts of the business.

However, the company retains the right to withdraw any stores from the liquidation process if a viable offer to keep them operating is received, according to the court filing.