A creative Canadian seller, dating back to more than 350 years, pulls the plug on his last seven stores.
Hudson Bay is likely to disappear close to the high Canadian streets, as the company has started the final liquidation sales.
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The historical chain started in sales in its remaining six stores in Hudson Bay and its store on Sox V on Saturday (April 25).
These stores joined 73 sites in Hudson Bay, 13 Saxis of Fifth sites and two Saks Fifth Avenue sites that have already seen liquidation sales.
Shoppers can enjoy 40-70 percent of sales in Hudson Bay stores, up to 30 percent on Saxer V and 40-60 percent of the lowest prices in the five stores.
The operation started after Hudson Bay was unable to finance the restructuring plan-instead, only able to secure limited financing for the debtors that require full liquidation.
The company submitted a request for protection under the Act of Clast Clasters in Canadian Companies (CCAA).
At that time, Hudson Bay said she hoped that the main stakeholders will participate in exploring “the course of an applicable replacement restructuring that can maintain jobs, rent retail sites and a company of deep historical importance before it is too late.”
There was a glimmer of hope that a new investor would invest.
Under the seam or investors (SISP), the Hudson Gulf can save stores from the cutting block.
The deadline for bids was April 30.
If nothing changes, the remaining stores will be closed forever by June 15, 2025.
Nine Sachs off the fifth stores that were already closed on Sunday April 27.
It comes in the event of the closure of the Hudson Bay store in Saskatchewan on April 10, 2024, due to a fire.
The vice chief of firefighting at Regeina Dustin McCulo said the accident was deliberate after someone ignited a shelf of clothes.
As a result, there was significant damage to the smoke and water in the store in Cornwall Center in Regeina, Saskatchewan, Canada.
The company decided not to renew the lease of this site, although a spokesman for Hudson Bay said that the fire had not played a role in this decision.
In a statement by CBC News, the spokesman said that the decision was taken “after looking carefully and long review“.
With regard to employees, their spokesman said, “They are committed to the treatment of each partner with respect and fairness through this process, and the opportunities for transportation will be explored in a possible place.”
The chains facing bankruptcy
Banking is a specific legal process that helps companies cancel debts that they cannot pay. Below is a list of the recently bankrupt stores:
