Hudson Bay Liquidation Sale – 96 Stores Closing June 2025
Hudson’s Bay Company (HBC), Canada’s oldest retailer, is closing every one of its Canadian stores following a court-approved liquidation process triggered by $1.1 billion in debt. All 96 locations — 80 Hudson’s Bay department stores, 3 Saks Fifth Avenue outlets, and 13 Saks Off 5th stores — are shutting permanently, with the final wind-down deadline set for .
The collapse of HBC marks the end of a retail institution that operated in Canada for more than 350 years. Fire sales launched on March 24, 2025, drawing large crowds driven by nostalgia and the prospect of deep discounts on a combined $315 million in merchandise. A second wave of liquidation began April 25 at the final six stores that were initially spared.
For shoppers across Ontario, British Columbia, Quebec, Alberta, and beyond, understanding which stores are still open, what discounts remain, and how the process concludes is essential before the retail chapter closes for good.
Which Hudson’s Bay Stores Are Closing?
96 Canadian stores — 80 Hudson’s Bay, 3 Saks Fifth Avenue, 13 Saks Off 5th
$315 million total, including $58 million held in distribution centres
March 24, 2025 (74+ stores); April 25, 2025 (final 6 HBC + 1 Saks)
TheBay.com included in the March 24 clearance launch
- Every single Hudson’s Bay location in Canada is closing — no stores are being retained.
- Ontario leads with 32 affected stores, followed by British Columbia (16), Quebec and Alberta (13 each), and 2 each in Saskatchewan, Manitoba, and Nova Scotia.
- The downtown Vancouver and Calgary flagships are among the notable closures already completed.
- Six stores — including the Queen Street Toronto and Sainte-Catherine Street Montreal flagships — were initially excluded from the March liquidation order but entered their own fire sale on April 25, 2025.
- The nine remaining Saks Off 5th locations began closing April 27, 2025.
- All gift cards ceased to be accepted upon each store’s closure; all staff are terminated upon shutdown.
- No stores are expected to remain operating beyond , barring an unlikely viable acquisition bid.
| Detail | Information |
|---|---|
| Company | Hudson’s Bay Company (HBC) |
| CCAA Filing Date | |
| Debt at Filing | $1.1 billion |
| Total Stores Liquidating | 96 (80 HBC + 3 Saks Fifth Avenue + 13 Saks Off 5th) |
| Total Inventory Value | $315 million (including $58M in distribution centres) |
| Early Sales Revenue | Over $235 million generated in late March 2025 |
| First Liquidation Wave | — 74 HBC stores, 2 Saks, 13 Saks Off 5th |
| Final Liquidation Wave | — 6 HBC stores + 1 Saks Fifth Avenue |
| Full Closure Deadline | |
| Provinces Affected | ON, BC, QC, AB, SK, MB, NS |
Is Hudson’s Bay Going Out of Business?
Yes — HBC filed for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) on March 7, 2025, and a court subsequently approved full liquidation of its Canadian retail operations. There are no announced plans to restructure, reopen, or relaunch the chain.
Advisors involved in the process have indicated that a viable acquisition bid capable of halting the liquidation is considered unlikely. HBC went private in March 2020, and no buyer has emerged to preserve the brand’s retail footprint in Canada.
What Happened to the Saks Brands?
Saks Fifth Avenue was separated from HBC in 2024 and merged with Neiman Marcus to form a new U.S.-based entity called Saks Global, which also includes Bergdorf Goodman and Saks Off 5th. That corporate restructuring took place in the United States and did not save HBC’s Canadian operations.
The Canadian Saks Fifth Avenue and Saks Off 5th stores operated under an HBC licensing arrangement. With HBC’s collapse, those Canadian locations are liquidating independently of the U.S. Saks Global business, which continues operating south of the border.
The U.S. Saks Global entity — formed through a 2024 merger of Saks Fifth Avenue and Neiman Marcus — is unaffected by HBC’s Canadian insolvency. Canadian Saks stores were licensed under HBC and are closing as part of the CCAA liquidation process.
Hudson’s Bay gift cards are no longer accepted once a given store closes. Cardholders in affected markets should redeem remaining balances before the local store’s final trading day.
What Are the Best Deals in the Liquidation Sale?
The liquidation covers the full merchandise mix across Hudson’s Bay department stores — apparel, home goods, accessories, and more — as well as luxury and outlet fashion at Saks Fifth Avenue and Saks Off 5th locations. The total inventory subject to clearance is valued at $315 million, according to Daily Hive.
How Deep Are the Discounts?
The sales launched as fire sales, with clearance discounts applied broadly across categories. Early weeks saw a customer frenzy driven heavily by nostalgia for the brand. As inventory depleted and the initial rush subsided, sales momentum slowed at many locations.
Specific percentage-off figures per category have not been publicly detailed beyond the general characterisation of deep clearance pricing. The $58 million in distribution centre inventory also entered the liquidation pool, supplementing what was already on store floors.
What Merchandise Is Included?
Hudson’s Bay stores carried a broad department store assortment: clothing for men, women, and children; home furnishings; bedding; kitchen goods; and beauty products. Saks Fifth Avenue and Saks Off 5th inventories reflect their respective luxury and outlet positioning. No specific brand exclusions from the liquidation have been reported.
Initial customer turnout was very high in late March 2025, generating over $235 million in sales nationally. Shoppers who waited past the first wave encountered thinner but potentially more aggressively discounted shelves as stores approached their closing dates.
When Does the Hudson Bay Liquidation Sale End?
The formal sale process concluded on , though court proceedings on remaining assets — including art auctions connected to the estate — were still pending beyond that date, according to Chain Store Age.
Physical stores are scheduled to finish trading and close by , with some locations expected to shut earlier depending on when inventory runs out. The final six Hudson’s Bay stores and one Saks Fifth Avenue location began their own liquidation on April 25, giving those sites roughly seven weeks of clearance sales before the hard deadline.
TheBay.com was included in the March 24 fire sale launch. Its operational status beyond the store closure deadline has not been confirmed. Shoppers tracking remaining deals at the final stores should factor in the June 15 hard cutoff, with no extension anticipated unless an unexpected acquisition bid materialises — a scenario advisors consider highly unlikely.
A Complete Look at the Closure Timeline
- — HBC granted CCAA creditor protection, citing $1.1 billion in debt; restructuring process begins. (Retail Dive)
- — Court hearings held; liquidation approved for the majority of stores. Fire sales launch March 24 at 74 Hudson’s Bay stores, 2 Saks Fifth Avenue locations, and all 13 Saks Off 5th stores. Six Hudson’s Bay flagships initially excluded.
- — Nationwide clearance events generate over $235 million in sales, driven by an initial surge in foot traffic and nostalgia shopping.
- — Liquidation sales begin at the final six Hudson’s Bay stores and the Queen Street Toronto Saks Fifth Avenue. (Video coverage)
- — Nine remaining Saks Off 5th stores begin closing.
- — Formal sale process ends; court proceedings on remaining assets, including art auctions, continue.
- — All Hudson’s Bay and Saks Fifth Avenue stores in Canada close permanently; full operational wind-down of HBC complete.
What Is Confirmed and What Remains Unclear
| Confirmed | Still Uncertain |
|---|---|
| All 96 Canadian locations are closing with no stores retained. | The exact final trading day for each individual store before June 15. |
| CCAA protection filed March 7, 2025; court-approved liquidation followed. | Whether TheBay.com continues to operate in any form after the physical closures. |
| $315 million in total inventory entered the liquidation pool. | Final per-category discount depths at individual locations. |
| Fire sales launched March 24 and April 25; over $235M raised in late March alone. | Outcomes of pending court proceedings related to HBC estate assets, including art auctions. |
| Gift cards are not accepted once a store closes. | Whether any bidder will emerge before June 15 to alter the wind-down trajectory. |
Why Hudson’s Bay Reached This Point
HBC accumulated $1.1 billion in debt, a burden that proved unmanageable as the company navigated shifting retail conditions in Canada. The company went private in March 2020, removing it from public market scrutiny while its financial position continued to deteriorate. No successful restructuring or acquisition deal was secured before the CCAA filing became necessary in March 2025.
In 2024, HBC separated Saks Fifth Avenue from its portfolio, with the U.S. brand merging with Neiman Marcus to form Saks Global — a transaction that reorganised the luxury retail landscape in the United States but did not resolve HBC’s Canadian debt load. The Canadian Saks stores had operated under an HBC licensing arrangement and were not transferred into the new American entity.
The liquidation reflects broader pressures on large-format department store retail in Canada — a category that has faced declining foot traffic, competition from e-commerce, and the long-term difficulty of maintaining profitably the kind of sprawling multi-category inventory that defined HBC’s model for generations. For consumers comparing cross-border pricing on remaining merchandise, the 182 USD to CAD exchange rate may be relevant when evaluating Saks-branded goods against U.S. alternatives.
What Sources and Coverage Have Reported
“Hudson’s Bay is set to begin liquidation at its last six remaining stores in Canada, leaving the future of the iconic retailer deeply uncertain as the CCAA process nears its conclusion.”
— Retail Insider, April 2025
“All remaining Hudson’s Bay and Saks Fifth Avenue stores in Canada are to be liquidated, with a closing date set no later than June 15, 2025.”
— Chain Store Age, 2025
“The liquidation process includes TheBay.com and store inventory totalling approximately $315 million, with fire sales beginning March 24 after court approval.”
— Daily Hive, 2025
Video documentation of the final liquidation phase, including the April 25 launch at remaining flagship stores, has also been covered in broadcast and online video reporting.
What the End of HBC Means for Canadian Retail
The closure of all 96 HBC locations represents the permanent disappearance of Canada’s oldest retail chain from the national landscape. With no buyer confirmed and the June 15 deadline firm, the liquidation sale is the final commercial act of a company that once defined Canadian department store shopping. Shoppers seeking deals on electronics or other consumer goods at competitive prices — such as those hunting Galaxy S23 Ultra best prices and deals — will need to look to alternative retailers once HBC closes its doors entirely.
What brands are included in Hudson Bay closing sales?
The liquidation covers the full merchandise assortment across Hudson’s Bay department stores — apparel, home goods, accessories, and beauty — as well as the luxury and outlet fashion inventories at Saks Fifth Avenue and Saks Off 5th. No specific brand exclusions from the liquidation have been publicly reported.
Are there Hudson Bay liquidation sales online?
Yes. TheBay.com was included in the March 24, 2025 fire sale launch alongside the initial wave of physical store clearances. Its continued operation beyond the June 15 physical store closure deadline has not been confirmed.
How many Hudson’s Bay stores are closing in Ontario?
Ontario has 32 Hudson’s Bay locations affected by the liquidation — the highest of any province. This includes the downtown Toronto flagship on Queen Street and the Yorkdale Shopping Centre location, both of which entered liquidation on April 25, 2025.
Can I still use a Hudson’s Bay gift card?
Gift cards are only accepted while a given store is still open. Once a location closes — and all are closing by June 15, 2025 — gift cards for that store are no longer redeemable. Cardholders should spend remaining balances before their nearest store’s final trading day.
Why were six stores initially excluded from the March liquidation order?
Six flagship stores — including the Queen Street Toronto, Sainte-Catherine Street Montreal, Yorkdale, Hillcrest Mall, CF Carrefour Laval, and CF Fairview Pointe-Claire locations — were initially set aside during March court hearings, likely pending further evaluation. All six subsequently entered liquidation on April 25, 2025.
Is the U.S. Saks Fifth Avenue also closing?
No. The U.S. Saks Fifth Avenue brand is part of Saks Global, formed in 2024 through a merger with Neiman Marcus. That entity continues operating in the United States and is entirely separate from HBC’s Canadian insolvency. Only Canadian Saks stores — operated under an HBC licence — are closing.
What happens to HBC employees?
All staff at each location are terminated upon that store’s closure. As stores wind down across Canada through the June 15 deadline, thousands of employees across all provinces are affected by the liquidation.
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