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Toronto – Hudson’s Bay said after spending a week seeking lifeline that it found a way to keep six stores open.
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Canada’s oldest company returned to court today to seek permission from Ontario judges to liquidate all stores except six stores and hopes to start the process from Monday.
Six stores saved from liquidation sales include the flagship location in Yonge Street, Toronto, and a store in the city’s Yorkdale Mall, and another north of the Hillcrest Mall in Richmond Hill, Ontario. The remaining three spanning the big taverns Laval Mall and Pointe-clare, Que.
Hudson Bay attorney Ashley Taylor said the company is making the request because recent sales exceeded the company’s expectations, allowing retailers to continue operating six stores and repay temporary financing received from lenders.
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