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Hudson’s Bay, Canada’s oldest company, is preparing to liquidate its entire business unless it secures last-minute financing. The retailer, which operates 80 stores, including three Saks Fifth Avenue and 13 Saks Off 5th locations, has struggled due to mismanagement, lack of store investment, and changing consumer habits. The planned closure, pending court approval, would result in over 9,300 job losses, with liquidation expected to conclude by June. Analysts blame its decline on real estate-focused ownership and financial constraints. The company owes over $950 million to creditors and faces pressure from unions to honor workers’ rights. A shutdown would leave major vacancies in malls and high-traffic retail spaces.
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