Hamilton and Burlington Hudson's Bay stores closing Sunday
Hudson's Bay stores in Hamilton's Lime Ridge Mall and Burlington's Mapleview Centre will officially close on Sunday.
The closures come as the decades-old retailer finalizes its liquidation period, which saw sales as high as 80 per cent off. All Bay stores will close on June 1.
On Sunday, the company will lay off 8,340 employees or 89 per cent of its workforce,
The Star reported
on Tuesday.
Exactly two weeks later, another 899 employees will lose their jobs.
It is unclear
how many jobs will be lost locally.
Tiffany Bourré, a Hudson Bay's spokesperson, said she did not have an employee count by store.
The company will close all of its stores across the country, including 80 Hudson's Bay stores (36 located in Ontario), three Saks Fifth Avenue stores and 13 Saks Off 5th stores.
The Hudson's Bay said employees will not receive severance pay when terminated and it has ended benefits, such as pension payment to former senior executives and post-retirement health and dental benefits for 2,000 retirees, The Star reported.
In court, the retailer will apply to declare that it meets the criteria for the federal Wage Earner Protection Program, which provides a one-time payment of up to seven weeks of insurable earnings or a maximum of $8,844 for 2025.
The 355-year-old company filed for creditor protection under the Companies' Creditors Arrangement Act in early March with more than $1 billion in debt.
The Hudson's Bay said in late April it would close the six stores it had planned to save after determining there was a low chance of finding buyers.
The company will seek court approval next Tuesday to sell its intellectual property, which includes its logo, name and multicoloured stripes design, to Canadian Tire for $30 million.
— With files from Estella Ren
Cheyenne Bholla is a reporter at The Hamilton Spectator.
cbholla@thespec.com
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