
Photo: Alex Passini/Google
Hudson’s Bay will be liquidating all but six stores starting on Monday.
An Ontario court has given Canada’s oldest company permission to begin selling off inventory at most of its 80 Hudson’s Bay stores. The ruling marks a glimmer of hope for the company, which filed for creditor protection on March 7th.
That includes the store in Kamloops located at the Aberdeen mall. The union representing a closure of this store will result in the loss of over 30 unionized jobs, dealing a significant blow to workers, their families and the community.
Jordan Lawrence is the Financial Secretary with United Steelworkers union (USW) Local 1-417. “This news is absolutely devastating not only for our members but for the entire city of Kamloops and the surrounding area.”
“Hudson’s Bay has been a cornerstone of our community for over 45 years. Generations of families have shopped at this store and been served by our amazing members, who have taken great pride in their work. The liquidation and the company’s ongoing financial struggles are deeply concerning.”
“Workers deserve clarity and fairness, not vague promises or backroom deals,” said Lawrence. “We’ve seen the devastating consequences for workers when companies like Sears shut down. Hudson’s Bay must protect the retirement security of its employees and ensure that pensions are there for its workers.”
The union is calling for immediate, clear communication from HBC regarding the liquidation, store closures, layoffs, pensions and severances. “HBC must ensure that frontline workers aren’t the ones left paying the price,” Lawrence said. “We stand ready to defend our members at the Kamloops store and will fight for their financial security every step of the way. We urge HBC to find a path forward to keep this store open for generations to come.”
On the national level, six stores are be able to be saved because the looming liquidation triggered a flurry of sales from customers looking to snap up Hudson’s Bay’s famed stripes products. The order gives the company the ability to pull additional stores out of the liquidation should the company find a way forward for even more locations, but also gives room to add the six to the sale, if a restructuring solution is not found very quickly.
Hudson’s Bay lawyers say the liquidation sales will wrap by June 15, though it didn’t outline how deep the discounts may be. It will vacate the liquidated properties by June 30.