Today, Canada’s oldest corporation begins its liquidation after unsuccessful attempts to find an alternative financial solution. Hudson’s Bay stores will continue to serve customers in-person and online for a limited time until the business is fully liquidated by June 2025.
The department store chain and Canadian icon started trading in 1670.
Liz Rodbell, President and CEO of Hudson’s Bay, told investors, “Our team has worked incredibly hard to identify a viable path forward, and our resolve is strengthened by the overwhelming support from customers and associates who have shared heartfelt stories about Hudson’s Bay and what our stores have meant to them, their families, and their communities across the generations.”
Even though the company is starting its liquidation, it remains receptive to any viable offers that could keep its doors open. Rodbell urged, “These powerful experiences remind us why we must continue to pursue every possible opportunity to secure the necessary support from key landlords and other stakeholders to save The Bay.”
By CEO NA Editorial Staff
