After an intense week of seeking potential solutions, Canada’s oldest company, Hudson’s Bay, has been granted permission by an Ontario court to begin liquidating all but six of its stores starting Monday (March 25, 2025).

On Friday, Ontario Superior Court Judge Peter Osborne approved the retailer’s request, allowing it to initiate clearance sales at the majority of its 80 Hudson’s Bay stores, along with three Saks Fifth Avenue locations and 13 Saks Off 5th outlets across Canada.

“This is the art of the possible, and we are where we are today. In my view, there is no other alternative,” Osborne stated while delivering the decision.

Six Stores Spared from Closure

Only six stores will be spared from liquidation, including:
✅ The flagship location on Yonge Street, Toronto
✅ A store at Yorkdale Mall, Toronto
✅ Another store at Hillcrest Mall, Richmond Hill, Ontario
✅ Three stores in Quebec, including at Carrefour Laval Mall, Pointe-Claire, and Montreal

Liquidation Timeline and Impact

The company plans to commence its liquidation sales starting March 25, with the sales expected to run until June 15, 2025. All liquidating stores will be vacated by June 30.

While Hudson’s Bay has not disclosed the extent of the discounts during the liquidation, industry analysts expect steep markdowns to clear inventory.

Potential Job Preservation

The decision to retain six stores could save some of the 9,364 jobs that were at risk had the company proceeded with its initial plan to close all locations. However, with the majority of stores shutting down, a significant number of employees will still be affected.

Financial Struggles and Failed Rescue Attempts

Hudson’s Bay, a 354-year-old retail icon, has struggled with declining sales, rising operating costs, and shifting consumer preferences toward e-commerce. Despite efforts to secure a financial lifeline, the company was unable to find an alternative solution.

The court ruling comes after several months of Hudson’s Bay seeking buyers or investors to prevent mass closures. However, with no viable options emerging, liquidation became the only feasible course of action.

As Hudson’s Bay embarks on this challenging chapter, the Canadian retail landscape is set to undergo significant change, marking the end of an era for many of the brand’s iconic locations.