Hudson’s Bay to Shut Down All Stores, Over 9,000 Jobs Lost

In a major blow to Canadian retail, Hudson’s Bay is set to close all its remaining stores this Sunday, ending a 355-year legacy. Court documents filed Monday reveal that about 8,347 employees—nearly 90% of the workforce—will be let go by June 1, with another 899 losing their jobs by mid-June. A small group of around 120 staff will remain temporarily to assist with the final shutdown.

The company, burdened with over $1 billion in debt, had filed for creditor protection in March under the Companies’ Creditors Arrangement Act (CCAA). Despite last-minute attempts to sell parts of the business, Hudson’s Bay has decided that full liquidation is the only option.

Employees won’t receive severance and have already seen benefits like pensions and retiree health coverage cut. Long-term disability benefits for 183 people are also set to end on June 15.

Workers will be eligible for the federal Wage Earner Protection Program, offering up to $8,844 in compensation starting January 1, 2025. Hudson’s Bay will apply for court approval next week to access the program and sell its intellectual property—including its brand and iconic stripes—to Canadian Tire for $30 million.

Meanwhile, 28 store leases may be reassigned to B.C.-based mall owner Central Walk, pending approval.