Hudson’s Bay seeks court approval for full liquidation, putting 9,000 jobs at risk, and Suppliers Invoices at risk!

TORONTO – Hudson’s Bay, Canada’s oldest department store, is heading back to court on Monday to seek approval for a full liquidation of its business, a move that threatens over 9,000 jobs nationwide.

The retailer says it has exhausted all efforts to secure the financing needed to keep parts of its operations afloat. Unless a last-minute deal is struck, the company aims to wrap up its liquidation by June 15.

HBC hopes for last-minute financing

Despite the dire situation, Hudson’s Bay remains hopeful that it can secure capital or reach agreements with key stakeholders—especially landlords—to avoid shutting down completely.

In its Ontario Superior Court filing, the company cited weak consumer spending, U.S.-Canada trade tensions, and a post-pandemic decline in downtown foot traffic as key reasons for its financial struggles.

Hudson’s Bay operates 80 department store locations, along with three Saks Fifth Avenue stores and 13 Saks Off 5th locations in Canada through a licensing deal.

What This Means for Thunder Bay and Northwestern Ontario

While Hudson’s Bay never had a Thunder Bay location, the retailer’s collapse could have ripple effects in the region. Companies like Superior Strategies has been left holding a significant unpaid invoice from the company which despite promises to pay, were never answered.