Hudson’s Bay, a retail titan with 350+ years of history, filed for creditor protection on March 7, 2025, casting doubt over its 80 Canadian department stores.
Citing U.S. tariffs, post-pandemic shopping shifts, and soaring costs, the company launched proceedings under the Companies’ Creditors Arrangement Act, signaling a fight for survival. The Hudson’s Bay Creditor Protection move jolts Canada’s retail scene, where it’s long been a cornerstone.
Breaking news: Hudson’s Bay, Canada's oldest retailer, has been granted creditor protection to restructure its businesshttps://t.co/5EUoMhnPqb
— The Globe and Mail (@globeandmail) March 8, 2025Born in 1670 in the UK, Hudson’s Bay opened its first Canadian outpost in Winnipeg in 1881. Today, it runs 32 stores in Ontario, 16 in British Columbia, 13 each in Quebec and Alberta, and two each in Manitoba, Saskatchewan, and Nova Scotia, anchor tenants in hubs like Erin Mills Town Centre (Mississauga), Sunridge Mall (Calgary), and Galeries D’Anjou (Montreal). The filing puts these lifeline locations—and jobs—on shaky ground as restructuring looms.
#BREAKING: Hudson's Bay files for creditor protection https://t.co/CYw8OmKg8o
— CP24 (@CP24) March 8, 2025CEO Liz Rodbell vowed to safeguard the brand’s legacy: “We’re here for customers, staff, and partners committed to Canada’s future.” She aims to “re-establish our foothold” in a tricky market. The Hudson’s Bay Creditor Protection follows a wild ride buying Neiman Marcus for $2.65 billion in July 2024 to form Saks Global, only to split from Saks Fifth Avenue by December. The Hudson’s Bay Creditor Protection 80 stores teetering rocks Canada’s retail core.
Read: Trump’s 25% Tariffs on Mexico, Canada Spark Trade War and Price Hikes
