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TORONTO — One of Canada’s most iconic retailers, Hudson’s Bay, has officially begun the liquidation of most of its stores, marking the end of an era for the country’s oldest company.
As of today, nearly all Hudson’s Bay locations across Canada will be offering clearance sales as part of the store closures. The company has set a target to complete the liquidation process by June 15. Customers will still be able to use gift cards until April 6, but loyalty points can no longer be redeemed.
However, six stores will remain open and are not included in the liquidation process. These include the historic flagship store on Yonge Street in downtown Toronto, along with locations in Yorkdale Shopping Centre and Hillcrest Mall in Richmond Hill, Ontario. In Quebec, three stores will continue operations: one in downtown Montreal, another in Carrefour Laval, and a third in Pointe-Claire.
Why Is Hudson’s Bay Shutting Down Most of Its Stores?
The decision to liquidate follows Hudson’s Bay’s recent filing for creditor protection, citing severe financial struggles. The company has faced mounting challenges, including declining consumer spending, reduced foot traffic in urban areas, and ongoing trade tensions between Canada and the U.S.
Retail analysts say Hudson’s Bay struggled to keep up with modern competitors, many of which have embraced sleek store designs, digital shopping experiences, and more agile business strategies. Despite its deep roots in Canadian history, the company has found it increasingly difficult to maintain its position in the evolving retail landscape.
For many Canadians, Hudson’s Bay has been a household name for generations. But with most of its stores now disappearing, the retail giant’s future remains uncertain.
