Canada’s oldest company, Hudson’s Bay, could soon permanently close its doors to customers as it runs out of business more than 350 years after it began.
Financial struggles in an ever-changing retail landscape have pushed the company to the brink as it awaits court approval to liquidate all of its stores across the country.
The case is still being considered by the Ontario Superior Court. Once approved, a store-by-store liquidation process could begin as early as this week, Hudson’s Bay Company says.
The iconic retailer’s liquidation would leave a giant hole in the Canadian retail landscape, said Bruce Winder, a retail expert.
“If they go into liquidation, there’s going to be a massive, gaping hole in retail in Canada,” he said.
“So many malls will have empty spaces, etc. It’s just going to leave a big impact to our psyche, too, as Canadians.”
Story continues below advertisement
As Hudson’s Bay prepares to wind down its business, here’s what customers …