Hudson's Bay is starting liquidation sales at nearly all its locations after filing for creditor protection due to significant financial difficulties. The company, Canada's oldest retailer, is closing all but six stores, which include key flagship and regional locations. Liquidation sales are slated to conclude by June 15, with store closures complete by June 30. Customer loyalty programs have been halted, yet gift cards remain valid until early April. An Ontario judge approved the company's liquidation effort, highlighting a post-pandemic drop in store traffic as a major contributing factor to its struggles.
Liquidation sales at Hudson's Bay begin Monday, with six key locations spared. This follows the company's recent creditor protection filing amid financial challenges.
While Hudson's Bay liquidates most of its stores due to ongoing financial struggles, the six locations that remain operational show surprisingly strong recent sales.
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