On May 17 Hudson’s Bay Company provided notice of liquidation sales at the remaining store locations outside of Quebec, marking another seismic shift in Canada’s retail landscape. The firm operates 80 Bay stores, three Saks Fifth Avenue locations and 13 Saks Off Fifth locations in Canada. Sadly, all of these spots are about to be lost forever. The decision comes after a similar announcement in late April, representing an enormous pivot in the company’s business model.
The clock has already started ticking on the liquidation process. Hudson’s Bay for example is advertising clearance markdowns of 70 percent on fashion and home items including off-season jewellery, indoor furniture and mattresses. Discounts of 60 percent are available on patio furniture and shoppers will save up to 50 percent on women’s apparel. Further, shoppers will enjoy 40 percent off footwear and men’s and children’s apparel.
Hudson’s Bay has confirmed that its remaining stores, including six Hudson’s Bay locations and one Saks Fifth Avenue store, will cease operations no later than June 15, 2025. It should be emphasized that many closures will take place well before this date.
Hudson’s Bay, meanwhile, is seeking buyers for the storefront fixtures in its downtown Toronto flagship store. This move is in line with their planned liquidation strategy. The firm currently has approximately $150,000 in inventory available to eager investors. This would signal a serious dedication to maximizing use of its dwindling assets.
In a recent statement looking back on their journey, Hudson’s Bay thanked the community for their years of support.
“We appreciate the overwhelming support over the years and throughout this chapter.” – Hudson’s Bay
The decision to liquidate has raised further questions concerning the state of retail’s future in Canada. This uncertainty hangs especially heavy over flagship retailers, such as Saks Fifth Avenue. As these stores prepare to close, shoppers need to take action! Don’t miss the great deals—get them before they’re gone!
