Hudson’s Bay is offering massive discounts to customers before permanently shutting all of its stores.
The 354-year-old Canadian retailer began clearance sales on April 25 at six Hudson’s Bay stores and one Saks Fifth Avenue location.
Shoppers can score 40–70 percent off clothing, jewelry, and furniture at Hudson’s Bay.
Saks Fifth Avenue is also offering 30 percent off all items.
If the company cannot find buyer, each Canadian store will close for good on June 15.
The soon-to-be shut down stores join 73 Hudson’s Bay, 14 Saks OFF 5TH, and two Saks Fifth Avenue stores that shuttered or are in the process of closing this year.
The brand blamed the collapse of sluggish consumer spending along with inflation, post-pandemic declines in shoppers, and trade tensions between the US and Canada.
The two countries have been fighting after President Donald Trump planted tariffs on Canadian imports, which are expected to raise prices for Americans and Canadians.
The remaining six Hudson’s Bay stores in Canada have begun massive liquidation sales after struggling to stay open
Despite the tariff troubles, Hudson’s Bay had already been in trouble with finances before Trump was re-elected.
Hudson’s Bay Company’s sales dropped to $1.1 billion from $1.65 billion in yearly revenue last year.
It also suffered a massive drop in e-commerce sales, dipping to $142 million compared to its $300 million earnings from 2023.
All of this and more were factors in why the company filed for Chapter 11 bankruptcy in March.
‘The central problem is one of experience. Across most of its stores, Hudson’s Bay has provided the shopper with a sub-par experience and this has created a situation in which traffic and spend has declined,’ Neil Saunders, the managing director of GlobalData’s retail division, said.
‘The chain has basically become far less relevant to Canadian shoppers and even its heritage and iconic status have not been enough to offset this.’
The company owed more than $950 million to suppliers following the filing, including Ralph Lauren and Chanel.
Due to the closures, approximately 9,364 store employees will be laid off.
Hudson’s Bay filed for bankruptcy protection in March 2025 and owed more than $950 million to suppliers at the time
Hudson’s Bay has been a mainstay in Canadian malls, selling products for more than three centuries
Hudson’s Bay had been a retail empire in Canada for decades with ties back to 17th-century fur trades.
The company switched hands multiple times over the years and suffered several restructuring difficulties.
Its current owner is NRDC Equity Partners, a firm founded by real estate mogul Richard Baker.
Hudson’s Bay Company acquired Saks in 2013 and formed Saks Global last year through a merger with Neiman Marcus and Bergdorf Goodman.
Despite the merger, stores have still shuttered left and right, and one of its iconic Saks locations in California is closing for good on May 10.
However, American Saks stores, including the soon-to-be-closed San Francisco shop, are not impacted by the bankruptcy filing.
