Hudson's Bay enters final days as shoppers search for deals
Hudson's Bay is headed into its last weekend of liquidation sales with its Toronto flagship teeming with shoppers looking for one last treasure from the department store.
Even before the Yonge Street location opened Friday, scores of shoppers waited in front of the doors, strategizing how to find the best deal.
When they made it inside, they found $10 Levi's jeans for men, $5 corsets for women and $15 pajama sets.
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Hudson's Bay to terminate more than 8,000 employees
There were also plenty of furniture and fixtures for sale, including plastic fruit, stacks of woven baskets and row upon row of mannequins.
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Shopper Alysha Robinson considered herself lucky to have snagged decorative white and gold pumpkins and Easter eggs she will use for displays at her cannabis store, but said it was sad to see store shelves so empty.
All 80 Hudson's Bay stores and 13 under its Saks banners are due to close by Sunday.
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Winnipeg Free Press
7 hours ago
- Winnipeg Free Press
Gallery: Remembering The Bay
After 355 years, the Hudson's Bay Company has closed its doors. The longstanding business grew as a fur-trading company and transitioned into a department store. Over recent years, it's been in a state of financial decline. It filed for creditor protection in March and is shuttering 80 Bay stores and its Saks-linked Canadian locations. In addition to the flagship store at Portage Avenue and Memorial Boulevard, which closed in 2020, Winnipeg's Hudson's Bay stores were located in CF Polo Park and St. Vital Centre. A Saks Off Fifth occupied Outlet Collection Winnipeg. Canstar Community News files The downtown Hudson's Bay Company building, shown while under construction in the 1920s, is an important piece of Winnipeg's architectural and cultural heritage. Canadian Tire aims to acquire Hudson's Bay trademarks, including its stripes and coat of arms. Here, we take a look back at the once-prominent Canadian company and its history in Winnipeg. Glenn Olsen / Free Press files The Hudson's Bay Company's downtown Winnipeg flagship store, above on Oct. 1, 1985, was officially opened in November 1926 and closed in November 2020. Hudson's Bay Company Archives, Manitoba Archives Hudson's Bay Company's downtown store's third floor looking south from the passenger elevator lobby in November 1926. Hudson's Bay Company Archives, Manitoba Archives Doreen Hardie appears on the job in a photo taken in 1947 of her working as the elevator operator at the Bay dressed in a toy soldier costume. Free Press files The first floor of the Hudson's Bay Company's downtown store on March 13, 1973. Wayne Glowacki / Free Press files On Nov. 19, 2004, Nelda Burdy had 47 years of service at the Paddlewheel Restaurant in the Bay downtown store. Ruth Bonneville / Free Press files Paddlewheel Restaurant - Turkey and Beef dinner platter on tray. Jan 23, 2013,
CTV News
10 hours ago
- CTV News
Redesigning the Bay's old stores come with challenges and opportunities
TORONTO — When Hudson's Bay began liquidating all of its stores and hunting for a potential new owner, Ruby Liu was determined not to let Canada's oldest company disappear. The B.C. mall owner made an offer for the company in hopes of restoring it to its former glory, but when Canadian Tire was chosen (court approval pending) to buy its name and trademark stripes, Liu's plan was foiled. Yet she didn't give up. Instead, she brokered a deal to take over up to 28 of the leases held by Hudson's Bay and its sister Saks businesses in Alberta, B.C. and Ontario and transform them into 'a new modern department store.' But making the jump from vision to reality won't be easy, even with her persistence and the billions of dollars reportedly at her fingertips. 'There is a lot of research, a lot of planning, a lot of capital, a lot of logistical challenges, inventory, branding and people that need to be figured out,' said Jenna Jacobson, the Eaton Chair in Retailing at Toronto Metropolitan University. Because Hudson's Bay sold off its real estate years ago, Liu's first task once the liquidation sales end Sunday will be convincing the landlords who own the massive spaces to get on board with her plan or it's unlikely a court will rubber stamp it. Several landlords have told The Canadian Press they are awaiting more details before they decide what to do about Liu, who declined to comment for this story. Don Gregor, an executive vice-president at Aurora Realty Consultants not involved with the deal, suspects their approval will be hard to win. He reasons that landlords like to be in control and usually don't want to have tenants selected for them, especially tenants who will pick up 'trophy leases' with the kind of deep concessions only a business as storied as the Bay could extract. Many of those leases date back to the very inception of the malls or properties they cover and would have rent charges Gregor believes were 'well-below market.' He also figures they had clauses restricting what other tenants could move in and what else could be built on the site. '(Landlords) would have loved if HBC had gone bankrupt and hadn't just fallen apart totally and they just get the space back because all the restrictions that anchor tenant held in that old lease would have gone away,' he said. 'Now, there's going to be a negotiation, like a dance between the two parties, where they have a little bit of give and take.' Liu will come to the table with plenty of business experience. She is said to have made billions through real estate developments in China before she headed to Canada. Once here, her Central Walk business bought British Columbia malls Tsawwassen Mills, Mayfair Shopping Centre and Woodgrove Centre, as well as Arbutus Ridge Golf Course. The shopping centres feature plenty of Canadian mall staples along with rarities like Bass Pro Shops, L.L. Bean and even café kiosks powered by robot baristas. Gregor thinks Liu operates 'very good malls' but will need a 'wonder team of lawyers' to advance a deal as significant and complex as the Bay one. One thing she'll have going for her is that landlords don't like to leave big pieces of their properties in limbo, said J.C. Williams Group retail strategist Lisa Hutcheson. 'In some ways, she makes it easier for them to not have to be worrying about how they're going to fill that large square footage,' she said. If they approve of Liu, they will also have someone to shoulder repairs the Bay neglected to do, Hutcheson said. A handful of its stores temporarily closed last summer because of air conditioning troubles and even more have been plagued with broken escalators for years. Gregor estimates it would cost half a million dollars to repair the HVAC system at just one of the Bay's biggest locations. Elevator fixes or replacements could take a year, he said. And that's on top of the $100 to $150 per square foot he thinks will have to be spent — at minimum — to shape the spaces. 'These stores are several hundred thousand square feet, and that takes a lot to reposition,' Hutcheson agreed. She pointed out La Maison Simons is spending about 18 months transforming some former Nordstrom locations in Toronto. 'And that's with a fully baked concept that they're going off of,' she said. Liu will have to generate a new concept that can go head-to-head with long-established department stores like Simons and Holt Renfrew and the plethora of options online. That will likely mean brokering relationships with suppliers Hutcheson believes will be 'a little bit nervous' because they are still reeling from millions in losses that came from the fall of the Bay. It will also mean hiring a large workforce that will devote themselves to an untested brand and then sell it to customers. Liu has promised to give suppliers and vendors who worked with Hudson's Bay priority when selecting partners for her new venture. She has also said she will prioritize hiring from the Bay's workforce, which stood at 9,364 staff before its demise. A Sunday post on LinkedIn from Central Walk CEO Linda Qin said Liu flew into Toronto on Saturday to interview 13 former Bay employees and hire 10, including some with 30 years of experience. 'But between now and when I expect (Liu's) doors will open, will be a gap, and many of them will find jobs,' Hutcheson said. Despite the battery of challenges Liu will have to overcome, Jacobson said the efforts could be worth it for both her and her customers. If Liu uses the opportunity to mirror the overseas department store model with new brands, supermarkets, restaurants, salons, entertainment and other digital experiences, Jacobson thinks Liu will 'usher in a new form of retail' the Canadian market sorely needs. 'If you look at the Chinese department stores, they often act like more of a destination in and of themselves than what we typically see in a Canadian or North American market,' Jacobson said. 'It's a destination where people could spend a significant amount of time ... which is going to be needed in order to have a successful model moving forward.' This report by The Canadian Press was first published June 1, 2025. Tara Deschamps, The Canadian Press
CBC
11 hours ago
- CBC
Redesigning the Bay's old retail spaces will come with challenges and opportunities
Social Sharing When Hudson's Bay began liquidating all of its stores and hunting for a potential new owner, Weihong (Ruby) Liu was determined not to let Canada's oldest company disappear. The B.C. mall owner made an offer to buy the company in hopes of restoring it to its former glory, but when Canadian Tire was chosen (court approval pending) to buy its name and trademark stripes, Liu's plan was foiled. Yet she didn't give up. Instead, she brokered a deal to take over up to 28 of the leases held by Hudson's Bay and its sister Saks businesses in Alberta, B.C. and Ontario and transform them into "a new modern department store." But making the jump from vision to reality won't be easy, even with her persistence and the billions of dollars reportedly at her fingertips. WATCH | Liu set to buy Hudson's Bay leases: Billionaire mall owner looks to buy up to 28 Hudson's Bay leases 8 days ago Duration 6:59 "There is a lot of research, a lot of planning, a lot of capital, a lot of logistical challenges, inventory, branding and people that need to be figured out," said Jenna Jacobson, the Eaton Chair in Retailing at Toronto Metropolitan University. Because Hudson's Bay sold off its real estate years ago, Liu's first task once the liquidation sales end Sunday will be convincing the landlords who own the massive spaces to get on board with her plan or it's unlikely a court will rubber stamp it. Several landlords have told The Canadian Press they are awaiting more details before they decide what to do about Liu, who declined to comment for this story. Don Gregor, an executive vice-president at Aurora Realty Consultants not involved with the deal, suspects their approval will be hard to win. He reasons that landlords like to be in control and usually don't want to have tenants selected for them, especially tenants trying to pick up "trophy leases" that come with the kind of deep concessions only a business as storied as the Bay could extract. Many of those leases date back to the very inception of the malls or properties and would likely have been renting to the Bay at "well-below market [rates]," Gregor said. He also figures they have clauses restricting what other tenants could move in and what else could be built on the site. "(Landlords) would have loved if HBC had gone bankrupt and hadn't just fallen apart totally and they just get the space back because all the restrictions that anchor tenant held in that old lease would have gone away," he said. "Now, there's going to be a negotiation, like a dance between the two parties, where they have a little bit of give and take." Multiple malls in B.C. Liu will come to the table with plenty of business experience. She is said to have made billions through real estate developments in China before she headed to Canada. Once here, her Central Walk business bought British Columbia malls Tsawwassen Mills, Mayfair Shopping Centre and Woodgrove Centre, as well as Arbutus Ridge Golf Course. The shopping centres feature plenty of Canadian mall staples along with rarities like Bass Pro Shops, L.L. Bean and even café kiosks powered by robot baristas. Gregor thinks Liu operates "very good malls" but will need a "wonder team of lawyers" to advance a deal as significant and complex as the Bay one. One thing she'll have going for her is that landlords don't like to leave big pieces of their properties in limbo, said J.C. Williams Group retail strategist Lisa Hutcheson. "In some ways, she makes it easier for them to not have to be worrying about how they're going to fill that large square footage," she said. WATCH | What led to the Bay's downfall: What went wrong with Hudson's Bay? 2 months ago Duration 5:49 If they approve of Liu, they will also have someone to shoulder repairs the Bay neglected to do, Hutcheson said. A handful of its stores temporarily closed last summer because of air conditioning troubles and even more have been plagued with broken escalators for years. Gregor estimates it would cost half a million dollars to repair the HVAC system at just one of the Bay's biggest locations. Elevator fixes or replacements could take a year, he said. And that's on top of the $100 to $150 per square foot he thinks will have to be spent — at minimum — to shape the spaces. "These stores are several hundred thousand square feet, and that takes a lot to reposition," Hutcheson agreed. She pointed out La Maison Simons is spending about 18 months transforming some former Nordstrom locations in Toronto. "And that's with a fully baked concept that they're going off of," she said. New retail concepts needed Liu will have to generate a new concept that can go head-to-head with long-established department stores like Simons and Holt Renfrew and the plethora of options online. That will likely mean brokering relationships with suppliers Hutcheson believes will be "a little bit nervous" because they are still reeling from millions in losses that came from the fall of the Bay. It will also mean hiring a large workforce that will devote themselves to an untested brand and then sell it to customers. Liu has promised to give suppliers and vendors who worked with Hudson's Bay priority when selecting partners for her new venture. She has also said she will prioritize hiring from the Bay's workforce, which stood at 9,364 staff before its demise. A Sunday post on LinkedIn from Central Walk CEO Linda Qin said Liu flew into Toronto on Saturday to interview 13 former Bay employees and hire 10, including some with 30 years of experience. "But between now and when I expect (Liu's) doors will open, will be a gap, and many of them will find jobs," Hutcheson said. WATCH | What's next for Vancouver's retail sector? The Bay's downfall raises questions for Vancouver's downtown retail sector 2 months ago Duration 2:11 Despite the battery of challenges Liu will have to overcome, Jacobson said the efforts could be worth it for both her and her customers. If Liu uses the opportunity to mirror the overseas department store model with new brands, supermarkets, restaurants, salons, entertainment and other digital experiences, Jacobson thinks Liu will "usher in a new form of retail" the Canadian market sorely needs. "If you look at the Chinese department stores, they often act like more of a destination in and of themselves than what we typically see in a Canadian or North American market," Jacobson said.
