Hudson's Bay Announces Liquidation of Remaining Stores

TORONTO--(BUSINESS WIRE)--Hudson’s Bay Company ULC (Hudson’s Bay or the Company), the Canadian entity comprising the retailer Hudson’s Bay and TheBay.com, will liquidate its remaining six Hudson’s Bay stores and one Saks Fifth Avenue location. At this time, the Company believes that a viable bid for the current six-store model is unlikely, and therefore will begin liquidation sales in these stores beginning Friday, April 25th. The remaining locations will join the 73 other Hudson’s Bay, 13 Saks OFF 5TH and two Saks Fifth Avenue locations already undergoing liquidation sales following the company’s filing under the Companies’ Creditors Arrangement Act (CCAA).

Should a bid be received in accordance with the Sale or Investor Solicitation Process (“SISP”), the Applicants retain the ability to withdraw these stores (or other stores) from the liquidation sale pursuant to, among others, the Amended and Restated SISP Order.

The current SISP process is still underway and remains unchanged. Reflect Advisors continues to solicit interest in, and opportunities for one or more sales of all or certain portions of the property, assets, and undertakings of the Company and/or an investment in, or refinancing of all or a portion of the business of the Company. The deadline for these submissions is April 30th.

The Hudson’s Bay and Saks Fifth Avenue stores in Canada are expected to operate no later than June 15, 2025, however, some may close earlier. Additionally, nine Saks OFF 5TH stores will close Sunday, April 27.

Hudson’s Bay extends its sincerest gratitude to its dedicated associates and loyal customers for their overwhelming support over the years and throughout this chapter.

Liquidation Sale Details

New inventory arrives daily from warehouse clear-outs at discounted prices.

• Hudson’s Bay: 40-70% off storewide
  • 40% off Men’s & Kids' Apparel and Footwear
  • Up to 50% off Women’s Apparel and Intimates
  • Up to 70% off Jewellery
  • 60% off Patio Furniture
  • 70% off Indoor Furniture and Mattresses
• Saks Fifth Avenue:
  • Up to 30% off storewide
• Saks OFF 5TH:
  • 40%–60% off the lowest ticketed prices

Select luxury brands and the HBC Stripes Collection will not be discounted. All items available while supplies last and will not be restocked once sold. All sales are final.

In addition, select store fixtures, furnishings, and equipment will soon be available for purchase at participating locations. To locate a participating store, please visit thebay.com.

About Hudson’s Bay Company ULC

Hudson’s Bay Company ULC is a Canadian entity that includes the retail company Hudson’s Bay, comprising 80 stores and TheBay.com. Through a licensing agreement, 3 Saks Fifth Avenue and 13 Saks OFF 5TH stores also operate in Canada under Hudson’s Bay Company ULC.

Additional Information

Court filings as well as other information related to Hudson’s Bay Company’s CCAA proceedings will be available on the Monitor’s website at www.alvarezandmarsal.com/HudsonsBay. Information regarding the CCAA process may also be obtained by calling the Monitor’s hotline at (416) 847-5157 (toll free), or by email at hudsonsbay@alvarezandmarsal.com. Hudson’s Bay will continue to provide updates regarding the CCAA proceedings as developments or circumstances may warrant.