The approval from Ontario Superior Court Judge Peter Osborne allows the retailer, which dates back to 1670, to begin selling off inventory at most of its 80 Hudson’s Bay stores, three Saks Fifth Avenue locations and 13 Saks Off 5th shops in Canada.
“This is the art of the possible and we are where we are today. In my view, there is no other alternative,” Judge Osborne said.
The six stores being saved from the liquidation sale include the flagship on Yonge Street in Toronto, as well as a store in the city’s Yorkdale mall and another farther north in Hillcrest Mall in Richmond Hill, Ontario The remaining three span Montreal, the Carrefour Laval mall and Point-Claire, Quebec.
I would have thought the goal is to keep some of the stores for historical reasons.
Bu they’re keeping these weird suburban stores like hillcrest, yorkdale, laval, and pointe claire…
Should have kept vancouver, and turned winnipeg into a museum or something.
In 2022 Winnipeg’s store was donated to the “Southern Chiefs’ Organization (SCO), which represents Manitoba’s 34 southern First Nations communities. (T)he building will be redeveloped with a wide range of mixed uses benefiting Indigenous people, while also providing some new life for the city centre.” Source
Unfortunately the cost of refurbishing the building has ballooned to $310 million. Source