End of an era: Final few Hudson’s Bay stores start liquidation sales

Customers lined up this morning in a number of Canadian cities to shop for quite possibly the last time at a Hudson’s Bay as the renowned department store faces final liquidation.

Discounts of up to 70 per cent were seen at the ailing company’s flagship store on Yonge Street in Toronto.

The department store is officially closing all 96 of its Bay, Saks Fifth Avenue and Saks Off Fifth stores.

Many shoppers headed straight for the company’s striped merchandise and apparel, which was marked down by up to 50 per cent.

In addition to the flagship, the new stores joining the liquidation are at Yorkdale mall in Toronto, Hillcrest Mall in Richmond Hill, downtown Montreal and Carrefour Laval mall and Pointe-Claire in Quebec.

A financial advisor for the owners has said there is a “low probability” that the firm will find a buyer for its remaining locations.

Hudson’s Bay is owned by NRDC Equity Partners, a U.S.-based private equity firm. It acquired the retailer in 2008.

— With files from The Canadian Press.

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