Utoo Radio with Other News Sources - March 15, 2025 - Hudson's Bay, Canada's oldest department store chain, is planning an immediate liquidation that will begin next week and wrap up in June.

The closure would result in job losses for 9,364 employees across Hudson's Bay stores, three Saks Fifth Avenue stores, and 13 Saks Off 5th locations.

The company is optimistic it can secure the necessary funding and find a solution with key stakeholders, particularly its landlord partners, to avoid a full shutdown.

Hudson's Bay plans to sell off its assets over the coming months, pending court approval, which could include an auction process if multiple qualified bids receive.

The company owes over $950 million to 26 pages' worth of listed creditors, including landlords, suppliers, and other partners.

A full liquidation in Canada would not only plunge a large portion of the retail workforce into unemployment but also leave anchor tenant spaces in malls and prestige real estate in high-traffic shopping districts in need of filling.