Hudson’s Bay to Lay Off Over 8,300 Employees as Stores Shut Down
Hudson’s Bay, Canada’s oldest retailer, is laying off more than 8,300 employees by June 1 as it permanently closes all 96 of its stores. The move comes after the company filed for creditor protection in March and failed to secure financing to restructure.
Roughly 89% of staff will be terminated this week, with only a small team staying on to manage final liquidation and furniture sales. The closures affect 80 Hudson’s Bay stores, 13 Saks Off 5th, and 3 Saks Fifth Avenue outlets. Only six locations — three in Ontario and three in Quebec — remain temporarily open.
The company’s main distribution centre will also close by mid-June, laying off nearly 900 more employees. A few staff will remain to assist with final shutdown tasks. Eligibility for federal WEPP benefits is still pending court approval.
Earlier this month, Canadian Tire purchased Hudson’s Bay’s trademarks for $30 million. While the brand name may live on, its retail era is all but over — marking the end of a 350-year-old Canadian legacy.
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