The retailer Hudson’s Bay, Canada’s oldest continuously operating company, is winding down its six remaining namesake stores plus a Saks Fifth Avenue that were not included in its liquidation plans.
Retail Dive reports the company declared that “a viable bid for the current six-store model is unlikely,” thus forcing the locations to follow in their closures to follow 73 Hudson’s Bay stores, 13 Saks Off 5th stores and two Saks Fifth Avenue stores. The Hudson’s Bay and Saks Fifth Avenue stores are scheduled to close by June 15 while the nine Saks Off 5th stores closed yesterday.
Hudson’s Bay – which dates to 1670 – filed for creditor protection earlier in March, owing $950 million to nearly 2,000 secured and unsecured creditors, including the brands Adidas Canada, Estée Lauder, L’Oréal Canada, Levi Strauss Canada, Michael Kors Canada, Nike Canada and Ralph Lauren.
Photo: Canmenwalker / Wikimedia Commons
