The Hudson's Bay department store is seen in downtown Montreal on Monday, March 17, 2025. THE CANADIAN PRESS/Christinne Muschi
March 21, 2025 - 1:00 AM
TORONTO - Hudson's Bay is expected to be back in court today, where it continues to seek permission to liquidate all of its stores as part of its creditor protection case.
Since Monday, the department store chain that holds the title of Canada's oldest company wants Ontario Superior Court judge Peter Osborne to allow it to selloff merchandise at its 80 stores, three Saks Fifth Avenue shops and 13 Saks Off 5th locations in Canada.
The company's lawyers have said the liquidation request was necessary because it doesn't have the funding needed to keep the stores alive, but it will keep searching for that backing, in hopes of reversing its liquidation plans.
Some lawyers representing landlords, suppliers and employees have opposed the liquidation request because they'd lose out on payments and feel the move would give the company little room to revive itself.
Osborne asked Hudson's Bay and its stakeholders to work out some of their disagreements, which they've been doing since the Monday hearing.
Hudson's Bay has not laid out how deep discounts may be during its liquidation period and has not said when it will start. The company was originally seeking permission to begin liquidating its stores this week.
This report by The Canadian Press was first published March 21, 2025.
News from © The Canadian Press, 2025