Canadian retailer Hudson’s Bay Co announced Thursday it will liquidate its remaining six Hudson’s Bay stores and one Saks Fifth Avenue location, beginning April 25th.
The company, which operates The Bay and TheBay.com, said it believes a viable bid for the current six-store model is unlikely. Liquidation sales will offer discounts of 40-70% at Hudson’s Bay locations and up to 30% at Saks Fifth Avenue.
All Hudson’s Bay and Saks Fifth Avenue stores in Canada are expected to cease operations by June 15, 2025, though some may close earlier. Nine Saks OFF 5TH stores will also close by April 27.
Read: Hudson’s Bay Plans Complete Liquidation, Putting 9,000 Jobs at Risk
The move follows the company’s filing under the Companies’ Creditors Arrangement Act (CCAA). Despite the liquidation plans, the Sale and Investor Solicitation Process (SISP) remains ongoing, with Reflect Advisors continuing to seek potential buyers until April 30th.
Store fixtures and equipment will also be available for purchase at participating locations, the company said.
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