Hudson's Bay hopes to save 6 stores, begin liquidation process Monday
CBC
After a week spent seeking a lifeline, Hudson's Bay says it has found a way to keep six stores open.
Canada's oldest company is back in court today to seek permission from an Ontario judge to liquidate all its other stores, and hopes to begin that process starting Monday.
The six stores being saved from the liquidation sale include the flagship location on Yonge Street in Toronto, as well as a store in the city's Yorkdale mall and another farther north in Hillcrest Mall in Richmond Hill, Ont. The remaining three span Montreal, the Carrefour Laval mall and Pointe-Claire, Que.
Hudson's Bay lawyer Ashley Taylor says the company is making the request because recent sales have exceeded the company's expectations, allowing the retailer to keep operating six of the stores and pay back interim financing it received from a lender.
The company's financial troubles have led to a flurry of sales from customers looking to snap up its famed striped products, for fear the retailer would close up shop for good.
Ashley says the company wants the ability to pull additional stores out of the liquidation should the company find a way forward for even more locations, but he warns if a restructuring solution is not found very quickly, the six stores will be added to the liquidation sale.
The six excluded stores only have until April 4, otherwise they get added to the liquidation.
Court documents also show the company is looking to wrap up the liquidation sales by June 15, though it didn't outline how deep the discounts may be.
It's also asking the judge for permission to vacate the properties by June 30.
Stores will not accept any loyalty programs but will accept employee and retiree discounts reduced to 10 per cent on all items except what is categorized as clearance until April 6, court documents showed. Sales on the website will continue up to April 15 and no refunds or exchanges will be accepted.
Lawyers for the company and its stakeholders are back in court after a week of trying to resolve as many disagreements as possible before the judge ruled on whether he'd approve the liquidation plan.
For the 9,364 employees on the company's payroll, the potential closure of 80 Hudson's Bay stores, three Saks Fifth Avenue stores and 13 Saks Off 5th locations in Canada will have deep consequences.
Sudbury's mayor says he's not worried that an ongoing trade war between Canada and the United States will hurt the city's nickel exports to the south.
The U.S. government is closing the main Canadian access to the Stanstead, Que., library, an iconic building that straddles both borders, according to town and library officials.
The grandmother of a 19-year-old Winnipegger facing terrorism-related charges says she burst into tears when she heard the seriousness of the allegations against him.
A portion of Saskatchewan's $784-million policing and public safety budget for 2025-26 has been earmarked for about 100 new provincially-funded city police officers and 50 new positions for its yet-inactive provincial police force.
When Jennie Passche gets sick, she finds herself in a competition to get care.
As the region faces a measles outbreak, Dr. Adelle Chang On has stepped in as the Grand Erie Public Health's (GEPH) new acting medical officer of health.
As measles cases rise in Alberta, many adults may be wondering whether they're protected against the highly contagious — and potentially dangerous — virus.
18-year-old says she was secretly filmed in Ontario mall for viral TikTok video deemed as anti-woman
An 18-year-old is speaking out after she says she was secretly filmed in a London, Ont., shopping mall, and the exchange was posted to the social media feeds of a man whose viral videos seemingly celebrate men rejecting women.
The Cure is a CBC News series examining strategies that provinces and territories are using to tackle the primary-care crisis across Canada.
Pat Burnstad said scams targeting elders in her community of Hay River, N.W.T., have been so common, that she arranged for the RCMP to give a presentation about it to a group of seniors in January.
Prime Minister Mark Carney is hosting a meeting with Canada's premiers at the Canadian War Museum in Ottawa on Friday, with interprovincial trade on the agenda.
A Toronto charity is set to open a new affordable and supportive housing initiative for women experiencing homelessness.
Seven weeks after their Ram 1500 truck was stolen from a hotel parking lot near Toronto, Micheil and Christopher Bennett of Ilderton, Ont., are no closer to having a working vehicle while waiting for a replacement part.