Clearance signs are displayed on racks of clothing at the flagship downtown Hudson’s Bay store, in Vancouver, on Monday, March 24, 2025. THE CANADIAN PRESS/Darryl Dyck
Clearance signs are displayed on racks of clothing at the flagship downtown Hudson’s Bay store, in Vancouver, on Monday, March 24, 2025. THE CANADIAN PRESS/Darryl Dyck
Hudson’s Bay has begun liquidating all of its stores after the company filed for creditor protection in March.
While there are still a few days left to make a bid to save the business, the 355-year-old HBC has decided to preemptively liquidate the last six locations. It's the latest development in the fall of Canada's oldest company, which filed for creditor protection last month. (April 25, 2025 / The Canadian Press)
Here’s how the process is unfolding so far:
Which stores are part of the liquidation?
All of them.
Initially, Hudson’s Bay was liquidating all but six of the 80 locations it has under its Hudson’s Bay banner, as well as the three Saks Fifth Avenue stores and 13 Saks Off 5th locations in Canada that it owns through a licensing agreement.
It recently expanded that liquidation to all stores because the company’s financial adviser said there is a “low probability” that the firm will find a buyer for its remaining locations by the deadline it has next week.
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What is the timeline for liquidation?
Liquidation has to be wrapped by June 15 at the latest, but the company has said some stores “may close earlier.” Nine Saks OFF 5TH stores are slated to shutter on April 27.
How deep are discounts?
At Hudson’s Bay, the deepest discounts are 70 per cent and come in the jewelry, indoor furniture and mattress departments. Patio furniture is 60 per cent off, women’s apparel is up to 50 per cent off and footwear, men’s and kids’ clothing will be reduced by 40 per cent.
Saks Fifth Avenue is up to 30 per cent off storewide while Saks Off Fifth discounts range from 40 to 60 per cent off the lowest ticketed prices.
Is there anything not being discounted?
Hudson’s Bay says its closing discounts do not apply to its Stripes collection and select luxury brands, which it did not name.
What about store infrastructure?
Hudson’s Bay says sales of select store fixtures, furnishings and equipment will soon be announced at some locations.
Will the Bay’s “stores within a store” be included in the liquidation?
It depends. Hudson’s Bay lawyer Elizabeth Pillon told court on March 17 that some of these stores within a store have asked for inventory to be removed, but others are interested in participating in the liquidation. She did not name which vendors fall into which group.
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Will the company accept returns?Â
Anyone who bought something online or at its Yonge Street, Hillcrest Mall or Yorkdale mall stores in Ontario or its downtown Montreal, Carrefour Laval mall and Pointe-Claire locations in Quebec before April 25 has until May 4 to make returns.Â
Hudson’s Bay says all purchases from here on are final sale and no price adjustments are being offered on previous purchases.
What happens to Hudson’s Bay gift cards?
The company stopped accepting gift cards after April 6. As of Feb. 1, Canadian customers had outstanding gift cards worth a total value of about $24.2 million.
What happens to Hudson’s Bay Rewards?
The loyalty program has been paused while the creditor protection process continues. More than 8.2 million Canadian customers hold about $58.5 million in unused points.
This report by The Canadian Press was first published April 25, 2025.
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