Hudson’s Bay headed back to court today
Update: Hudson’s Bay says it has found a way to keep six stores open.
Canada’s oldest company had been seeking permission to liquidate all of its stores as part of its creditor-protection case.
Now the department store says it is seeking permission from an Ontario judge to liquidate all but the six stores, starting on Monday. All the stores are located in Ontario and Quebec.
Earlier: Hudson’s Bay is expected to be back in court today, where it continues to seek permission to liquidate all of its stores as part of its creditor protection case.
Since Monday, the department store chain that holds the title of Canada’s oldest company wants Ontario Superior Court judge Peter Osborne to allow it to selloff merchandise at its 80 stores, three Saks Fifth Avenue shops and 13 Saks Off 5th locations in Canada.
The company’s lawyers have said the liquidation request was necessary because it doesn’t have the funding needed to keep the stores alive, but it will keep searching for that backing, in hopes of reversing its liquidation plans.
