27-05-2025
Canada job loss: Hudson's Bay to lay off approximately 90% of its workforce as iconic retailer shuts down
Hudson's Bay, Canada's oldest retailer, is set to lay off approximately 90% of its workforce, or 8,347 employees, by Sunday, June 1, as it concludes its liquidation sale and shuts all stores.
Founded in 1670, the retailer has been a staple in Canadian malls for 355 years.
The layoffs come amid rising national unemployment, which hit 6.9 percent in April, the highest since November 2024, as US tariffs impact the export-dependent economy.
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An additional 899 employees are expected to be let go around June 15 when distribution centers close, while the final 118 staff will assist with winding up the company under Canada's Companies' Creditors Arrangement Act.
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Hudson's Bay filed for creditor protection under the CCAA in March, citing over $1.1 billion in debt. Despite efforts to restructure, the company initiated full liquidation after failing to secure necessary financing.
As part of the liquidation, Hudson's Bay has entered into a definitive agreement to sell up to 28 retail leases across Ontario, Alberta, and British Columbia to Ruby Liu Commercial Investment Corp, a company indirectly controlled by entrepreneur Weihong Liu alias Ruby Liu.
Liu plans to launch a new modern department store concept in Canada, though it will not carry the Hudson's Bay name or branding.
Canadian Tire Corporation has acquired Hudson's Bay's intellectual property, including its iconic coat of arms and stripes, for $30 million. The retailer plans to integrate these assets across its retail empire, potentially reviving the brand in the future without continuing its brick-and-mortar presence.
The closure of Hudson's Bay marks a significant moment in
Canadian retail history
, echoing the 2018 shutdown of Sears Canada, which resulted in around 12,000 job losses. The company's signature striped products have surged in value, reflecting public sentiment and nostalgia.
Liquidation sales are ongoing, with discounts between 40 percent- 70 percent, and are expected to conclude by June 15. All locations are to be vacated by the end of June.
The disappearance of Hudson's Bay from Canadian shopping centers raises questions about the future of department store retail in the country. As landlords weigh their next moves, interest from global and domestic players suggests the story of Hudson's Bay may not end entirely.
For now, the fate of this storied brand rests with the Ontario courts, competing bidders, and the court-appointed monitor overseeing the process. A clearer picture of Hudson's Bay's future is expected to emerge by mid-June.
