Hudson’s Bay is set to close down all its remaining six stores and a Saks Fifth Avenue store in Canada.
Earlier this year, the retailer filed for the Canadian equivalent of Chapter 11 bankruptcy and plans to wind down all operations if a suitable bid does not emerge.
However, the company stated, “a viable bid for the current six-store model is unlikely,” and the liquidation is set to begin on Friday.
The six locations and Saks Fifth Avenue store were previously excluded from the liquidation plans. However, the company announced the decision to shutter the remaining locations.
Hudson’s Bay blamed the new tariff rules and rising competition in the brick-and-mortar sector for its financial struggles in the bankruptcy filing.
The company said various retail challenges, including the decrease in sales after the pandemic, led to the decision to liquidate the remaining stores.
Liz Rodbell, Hudson’s Bay’s CEO and president, said: “Hudson’s Bay has been a vital retailer to Canadians for generations, and this decision was made with the best interests of our customers, associates, and partners in mind.
“While very difficult, this is a necessary step to strengthen our foundation and ensure that we remain a significant part of Canada’s retail landscape, despite the sector-wide challenges that have forced other retailers to exit the market.”
The retailer operated around 96 stores across Canada. It joins a growing list of retailers filing for bankruptcy in 2025 amid economic uncertainty and a challenging market.
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