Hudson’s Bay Co. to Begin Selling Off Merchandise at Six Remaining Stores

Hudson’s Bay Co. has announced in a new court filing that it will be selling off all merchandise at the six stores that were previously spared from liquidation, starting this Friday. This decision comes after the company’s financial advisor, Reflect Advisors, stated that there is a “low probability” of finding a buyer for these remaining locations.

According to Adam Zalev, the managing director of Reflect Advisors, if a bid is received for the stores that could potentially keep them operating, Hudson’s Bay retains the right to remove them from the liquidation process. However, the likelihood of this happening seems slim, as the company continues to search for investors or buyers who could restructure or maintain the business.

This move effectively marks the end of Hudson’s Bay’s department store empire, following court approval last month to liquidate 90 of its 96 Bay, Saks, and Saks Off Fifth stores by mid-June. The six stores now being added to the liquidation list include the flagship location on Yonge Street in Toronto, as well as stores in Yorkdale Shopping Centre and Hillcrest Mall in Richmond Hill, Ontario.

The remaining three stores set for liquidation are located in downtown Montreal, Carrefour Laval mall in Laval, Quebec, and Pointe-Claire, Quebec. This decision underscores the challenges facing brick-and-mortar retailers in today’s rapidly changing retail landscape.