Hudson’s Bay’s Decline Persists a Year Post-Retail Collapse
One year after Hudson’s Bay, Canada’s oldest retail company, initiated its wind-down, the impact remains stark. The department store sought creditor protection on March 7, 2025, citing overwhelming debt of $1.1 billion.
Financial Struggles and Store Closures
Despite efforts to secure a buyer or lender, Hudson’s Bay was unable to sustain its operations. By June 2025, all 80 of its stores permanently closed. Additionally, 16 Saks locations also shut their doors.
Auctioning Assets
In the wake of these closures, Hudson’s Bay began auctioning off its extensive collection of 4,400 art pieces and artifacts. The company also focused on selling leases or reverting them back to landlords.
Current Status of Vacated Properties
An analysis revealed that 73 of the 96 properties left vacant by Hudson’s Bay and Saks remain closed. Some of these locations, however, are preparing to welcome new tenants.
- Urban Behaviour
- Urban Planet
- Designer Depot
- Various furniture stores
While some properties have found new occupants, the overall decline of Hudson’s Bay following its retail collapse shows no signs of reversing.
