{"id":57702,"date":"2025-03-21T17:35:05","date_gmt":"2025-03-21T17:35:05","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/03\/21\/hudsons-bay-proposes-liquidation-start-monday\/"},"modified":"2025-03-21T17:35:05","modified_gmt":"2025-03-21T17:35:05","slug":"hudsons-bay-proposes-liquidation-start-monday","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/03\/21\/hudsons-bay-proposes-liquidation-start-monday\/","title":{"rendered":"Hudson&#8217;s Bay proposes liquidation start Monday"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Retail &amp; Marketing<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">The closure of HBC&#8217;s stores could impact 9,360 employees and could \u201cdrastically\u201d alter the dynamics of malls nationally<\/p>\n<div class=\"callout callout--noindent flex-align-center flex-justify-between\" data-evt-val=\"{\" control_fields=\"\" data-evt=\"visible\" data-evt-typ=\"element_view\"><span class=\"callout__text\"> Get the latest from Naimul Karim straight to your inbox <\/span><button class=\"button button--icon button--primary-alt\" data-id-login-redirect=\"https:\/\/financialpost.com\/author\/nkarim\/newsletters\/\" type=\"button\"><span class=\"button__text\">Sign Up<\/span> <span aria-hidden=\"true\" class=\"button__icon\"> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 11 11\" width=\"11\"><polygon points=\"1.1 0 7 6 1.1 12 0 10.9 4.8 6 0 1.1\"\/><\/svg> <\/span><\/button><\/div>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Mar 21, 2025<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 3\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"cdbe4b0d-8aa7-4709-8cab-70ed9e4f5390\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">The retailer is speaking to key stakeholders, such as landlords, to create an alternative path that could preserve jobs and tenancy in retail locations, but this would also require a significant amount of capital.<\/span> <span class=\"credit\">Photo by Katherine KY Cheng\/Getty Images\/Postmedia files<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Hudson\u2019s Bay Co. on Friday received court approval to start liquidating all but six of its 96 stores starting on Monday, as Canada\u2019s oldest department store tries to find a way to pay back the millions of dollars it owes to its creditors and not shut down completely.<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The stores the company doesn\u2019t plan to liquidate as of now are its flagship store in downtown Toronto, as well as those in Toronto\u2019s Yorkdale Shopping Centre, Hillcrest Mall in Richmond Hill, Ont., and three in the Greater Montreal Area: Carrefour Laval mall, Pointe-Claire mall and the downtown location.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment7488733306050700777246823026786304\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block 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authors.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__registration_only hidden\">\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">But that doesn\u2019t necessarily mean these stores won\u2019t be eventually liquidated as well. HBC is currently in discussions with the landlords of those stores to see if there\u2019s an opportunity to restructure, its lawyers said. If it can\u2019t find a solution quickly, these outlets may also be liquidated.<\/p>\n<p>\u201cIn discussions with the liquidator, we were able to negotiate for their removal, at least on a temporary basis,\u201d Ashley Taylor, a lawyer at Stikeman Elliott LLP representing HBC, told the court on Friday. \u201cThere may be some opportunity to restructure around those stores. However, the time to do so remains very short.\u201d<\/p>\n<p>He also said he wanted \u201cto be crystal clear\u201d to the court that HBC does not currently have an agreement on which it could base a restructuring plan.<\/p>\n<p>HBC on March 7 decided to seek legal protection from its creditors for 10 days through the Companies\u2019 Creditors Arrangement Act (CCAA) and its application was granted by the court the same day.<\/p>\n<p>The retailer has been struggling to pay its landlords, vendors and service providers and it was also concerned that certain landlords would lock the company out.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot16 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-execsummary background--primary-light-gradient\" aria-labelledby=\"FinancialPostPosthaste6012677342169077475451475503087616\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_ExecSummary\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1600w\" alt=\"Posthaste\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/18.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg\"\/><\/div>\n<div>\n<p>Posthaste<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_ExecSummary\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_ExecSummary\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment8505848514090439012156293657919488\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>As an example, it said a landlord locked Hudson\u2019s Bay out of a store in Sydney, N.S., on March 7, while a team of bailiffs attempted to seize merchandise from a store in Toronto\u2019s Sherway Gardens mall.<\/p>\n<p>The move to enter CCAA was supposed to give Hudson\u2019s Bay \u201cbreathing room,\u201d the company said, while it looked for additional funding. But on March 14, the company said it had failed to get sufficient funding, so it would have to liquidate all its stores.<\/p>\n<p>The court approved the company\u2019s liquidation request, along with others, on Friday.<\/p>\n<p>Judge Peter Osborne, who has been hearing the motions at the Ontario Superior Court of Justice in Toronto since March 7, on Friday said that the more stores \u201ccarved out\u201d from liquidation, the better.<\/p>\n<p>\u201cThere\u2019s no alternative but to approve the liquidation effective immediately to maximize the chances of success,\u201d he said.<\/p>\n<p>Aside from the liquidation order, the hearing on Friday also showed that sales at HBC\u2019s stores exceeded expectations in the past week following the news of the company\u2019s potential closure. As a result, the company won\u2019t require a loan it had taken to conduct the liquidation sale, its lease monetization process and other processes.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment4107208051881136869204312759205888\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">The company also agreed to pay about $7 million per month to its joint-venture partner RioCan Real Estate Investment Trust, one of Canada\u2019s largest REITs, which co-owns several HBC stores.<\/p>\n<p>HBC had previously asked the court to temporarily exempt it from making payments linked to the joint venture as it tried to regain financial stability, but RioCan opposed that motion and said it was disappointed by how Hudson\u2019s Bay was looking to restructure itself.<\/p>\n<p>Joseph Pasquariello, RioCan\u2019s lawyer, said the REIT was happy with the court\u2019s decision on Friday.<\/p>\n<p>\u201cThis is a good news day,\u201d he told the court on Friday. \u201cAnother day without a complete liquidation is a good day, and having the company in control of their own destiny with the continued hope of some sort of a scaled-down new Hudson\u2019s Bay is certainly welcomed by RioCan.\u201d<\/p>\n<section aria-labelledby=\"moreTopicLabel4300445621635865167301888381550592\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" looming=\"\" liquidation=\"\" conjures=\"\" ghost=\"\" of=\"\" eaton=\"\" demise=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"A dismantled mannequin and empty floor space in Hudson\u2019s Bay at Masonville Place in London, Ontario on Tuesday March 18, 2025.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=80&sig=TLtI2N809YCM_WjDsgl9NQ\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=5&sig=IjfOQL_wMGjWxAgjTBLswA&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=96&strip=all&quality=80&sig=TLtI2N809YCM_WjDsgl9NQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=192&strip=all&quality=80&sig=KvGKh7VXGLtUW6MdFrPiYw 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0320-mg-bay.jpg?h=288&strip=all&quality=80&sig=Qku1UCDAoEuy59z3Z4odbA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">HBC&#8217;s looming liquidation conjures ghost of Eaton&#8217;s demise<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" bay=\"\" back=\"\" in=\"\" court=\"\" as=\"\" riocan=\"\" calls=\"\" filing=\"\" disappointing=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"The closure of Hudson\u2019s Bay, which employs about 9,360 people, would \u201cdrastically\u201d alter the dynamics of malls nationally by removing a \u201cmajor anchor and driver of customer traffic.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=80&sig=0TjzscKw50sUF7byB_e0XQ\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=5&sig=q2j9vPAjQlnf9C5AnGTEbw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=96&strip=all&quality=80&sig=0TjzscKw50sUF7byB_e0XQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=192&strip=all&quality=80&sig=f7A6bosZaAIMFeVoOhII7Q 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0319-mg-hudsons.jpg?h=288&strip=all&quality=80&sig=aLIZ3sBBMlESaKjby-O9RA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Hudson&#8217;s Bay back in court as RioCan calls filing disappointing<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" an=\"\" iconic=\"\" store=\"\" what=\"\" next=\"\" for=\"\" canada=\"\" hudson=\"\" bay=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Hudson's Bay plans to liquidate some of its stores, monetize certain retail leases that hold value due to the below-market rent and focus on high-performing retail locations.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=80&sig=4E8qmsHvodwYL0QEHfWTGQ\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=5&sig=eOg4elWmqC6u7D7zEP53qg&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=96&strip=all&quality=80&sig=4E8qmsHvodwYL0QEHfWTGQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=192&strip=all&quality=80&sig=W_mtY2lwPskvp3JLXl0MAA 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0311-mg-hudsonsbay.jpg?h=288&strip=all&quality=80&sig=thAbNDIABVSZGFg_zjeAoQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Once an iconic store, what&#8217;s next for Canada&#8217;s Hudson&#8217;s Bay?<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>A lawyer representing some of HBC\u2019s workers, though, reminded the court that the company\u2019s closure would impact more than 9,000 employees.<\/p>\n<p>\u201cI don\u2019t think the court should be misled. This is not a good news day,\u201d Andrew Hatnay, a lawyer at Koski Minsky LLP, said. \u201cThis is the demise of HBC slowly, but surely, which is unfortunate. There are going to be, ultimately, very substantial severance claims for the employee population.\u201d<\/p>\n<p>He expects severance claims will total more than $100 million.<\/p>\n<p data-async=\"\">\u2022 Email: nkarim@postmedia.com<\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Hudson&#8217;s Bay proposes liquidation start Monday<\/a><br \/>\n<br \/>2025-03-21 17:35:05<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Retail &amp; Marketing The closure of HBC&#8217;s stores could impact 9,360 employees and could \u201cdrastically\u201d alter the dynamics of malls nationally Get the latest from Naimul&#8230;<\/p>\n","protected":false},"author":2,"featured_media":57703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-hudsons-bay.jpg?quality=90&strip=all&w=288&h=216&sig=V4eNqPNxKMhkh6vlJCtFHA","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-57702","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=57702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/57703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=57702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=57702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=57702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}