In a dramatic development for one of Canada’s most iconic retailers, Hudson’s Bay has extended its nationwide liquidation sale to include three of its most high-profile Ontario locations—Yonge Street in downtown Toronto, Yorkdale Shopping Centre, and Hillcrest Mall in Richmond Hill.
These stores, once spared in hopes of a last-minute lifeline, will begin clearance sales this Friday as the company races against time to secure a buyer.
Hudson’s Bay, North America’s oldest company at 355 years, filed for creditor protection last month, staggering under a $1 billion debt load and persistent revenue losses. While 90 stores were already in the process of liquidating inventory, six remained on hold—three in Ontario and three in Quebec.
But with no white knight in sight and a crucial bid deadline approaching next week, the retailer has signaled that hopes of survival are fading fast.
If a financial rescuer doesn’t step forward in time, the historic brand could disappear altogether—along with 9,364 jobs across the country.