Hudson’s Bay will put six stores it previously wanted to keep operational into liquidation on Friday after deciding it is “unlikely” to find a restructuring solution to save its business.
“The exclusion of the six stores from the liquidation sale is negatively impacting the Applicants’ realization efforts,” said Reflect, the financial adviser of the retailer in its liquidation.
“Given the low probability of receiving a viable bid based on the Six Store Model, the Applicants, in consultation with Reflect and the Monitor, have decided to include these six stores in the liquidation sale effective April 25, 2025,” the document read.
The six stores include its flagship store at Yonge and Queen streets in Toronto, the store at Yorkdale mall, one at Hillcrest Mall in Richmond Hill, as well as three locations in Quebec.
Canada’s oldest company reserves the right to withdraw stores from liquidation sales if a last-minute buyer or investor bid emerges during the sales process.
