Hudson's Bay Co. has announced that it will begin liquidating all merchandise in the last six stores that had avoided liquidation, effective Friday. The decision reflects a low likelihood of securing a buyer for these stores, according to Adam Zalev from Reflect Advisors. This follows a previous court ruling allowing the liquidation of 90 other stores. Notably, the flagship store on Yonge Street in Toronto is among those now included, signifying a dramatic shrinkage of Hudson's Bay’s retail presence as it searches for potential investors or buyers for its remaining operations.
Hudson's Bay Co. is initiating the liquidation of six remaining stores previously spared, citing a "low probability" of finding a buyer for these locations.
Adam Zalev, managing director of Reflect Advisors, indicated that the retailer maintains the option to withdraw stores from liquidation if viable bids are received.
This decision marks a significant step in the winding down of Hudson's Bay's presence, following court approval to liquidate 90 out of 96 locations.
The flagship store on Toronto's Yonge Street, along with other major locations, is now part of the liquidation process as Hudson's Bay seeks to restructure.
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