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Hudson Bay has begun liquidating its six stores after the company applied for creditor protection earlier this month.
So far, this is how the process has evolved:
Which stores are part of the liquidation?
Hudson Bay is liquidating all of its stores except its six. It has 80 stores under the Hudson Bay banner, as well as three SAKS Fifth Street stores, and 13 stores in the fifth Canadian location owned by a license agreement.
Which stores will remain open?
The six stores temporarily preserved are flagship stores in Yonge Street, Toronto, as well as one at the city’s Yorkdale Mall, and another at the Hillcrest Mall in Richmond Hill, Ontario. Toronto’s flagship locations include Hudson’s Bay and Sachs Fifth Avenue, both of which remain open.
The other three unresolved stores are in the Montreal area. They include downtown locations as well as the shops of Carrefour Laval Shopping Center and Pointe-Claire.
The company was able to pull some stores out of liquidation because its creditor protection case was high enough after the sale started to make the retailer run a little longer.
But if a long-term solution is not found, Hudson Bay attorney Ashley Taylor said six locations could also be liquidated.
On the other hand, if it gets additional financing, he says the company may be able to save on other stores.
What is the liquidation schedule?
Retailers began liquidation on Monday and planned to end it by June 15. It will evacuate the store by June 30.
Hudson Bay said discounts for clearing stores range from lowest fares ranging from 15% to 40%.
It says the 15% discount on the 5th Street and the 5th largest saxophone.
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However, clearance signs at some stores show higher discounts on items, up to 60%.
If the Bay follows the model Nordstrom used when he left Canada in 2023, the discount will increase over time.
Is there anything that is not discounted?
Hudson Bay said its closing discounts are not applicable to beauty products, striped ranges and opt for luxury brands, but are unnamed.
What about the store infrastructure?
Hudson Bay said the sale of selected store fixtures, furniture and equipment will be announced in some places soon.
Will the Bay’s “shop in the store” be included in the liquidation?
it depends. Hudson Bay attorney Elizabeth Pillon told the court on March 17 that some stores in the stores have requested the clearance, but others are interested in participating in the liquidation. She did not name which supplier belongs to which group.
Visited last week for liquidation and non-liquefied Hudson Bay locations, showing Hugo owner merchandise has been cleared from store floors.
What happens to a Hudson Bay Gift Card?
The company will stop accepting gift cards after April 6 and has stopped selling them. As of February 1, Canadian customers have excellent gift cards with a total value of approximately $24.2 million.
What will happen to the Hudson Bay reward?
The loyalty program has been suspended as the creditor protection process continues. The unused points of over 8.2 million Canadian customers are approximately CAD 58.5 million.
Will the company accept the reward?
Hudson Bay said the purchase at the liquidation location would be final, but if the item was purchased by March 25, shoppers must bring it back by April 6.
In stores that do not belong to liquidation, items are only eligible to receive returns from 14 days after purchase, and anyone bringing back the product must have a receipt. These returns can only be made in unresolved locations.
What is the rate of return on online orders?
An email from Hudson’s Bay said e-commerce gains can be earned in the store, but the liquidation location can only accept those gains, until April 6, and shoppers must have the original receipt.
Qualified e-commerce returns can also be mailed back.
Hudson Bay said items that will be finalized will be directed online and will be no exception for items that do not meet the returns.
The liquidation puts 9,364 jobs at risk, most of which are located in Ontario.
Taylor previously said in court that he would encourage about 121 employees to leave $2.7 million in monetary incentives. The company requires sealing the terms of this payment process to maintain employees secretly.
Employee attorney Andrew Hatnay said the entanglement of Hudson’s Bay will be one of the largest batch terminations in the country since Sears Canada folded.
What happens to workers’ pensions, benefits and severance costs?
The company’s pension plan has 4,000 active and inactive members and has fixed welfare rights, with approximately 17,000 active and inactive members with clear contribution rights as of December 31, 2024. Pension members work at Hudson’s Bay and its acquisitions of Simpsons, Zellers, Zellers, Zellers and Kmart Canada.
The pension plan “is sufficiently funded to meet its liabilities,” court documents said.
Court documents show staff were told their pensions are safe, but Hatnay said the supplemental pension plan covers executives and senior managers, underfunded by millions of funds and some welfare funds.
Hatnay and some staff members said they were told the company would not pay severance payments.
What does this mean for Hudson Bay headquarters?
Hudson’s Bay leased an office building in downtown Toronto on Bay Street, which is managed by a third party. It is not part of the liquidation.
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