Hudson’s Bay slashing more than 8,300 jobs, closing stores June 1

What’s going on at Hudson’s Bay?

Hudson’s Bay is closing all of its stores on June 1 — leaving more than 8,300 employees out of work.

In a motion filed on May 26, Canada’s oldest retailer said affected staff “will be paid their accrued vacation pay as at their date of termination, however, the company does not expect any other termination or severance payments to be paid by the company upon termination.”

After June 15, Hudson’s Bay is currently anticipating that 50 retail workers, 58 corporate employees, and 10 distribution centre staffers will remain to assist with the “final wind-up” of its business.

SEE ALSO
• Hudson’s Bay selling assets to Canadian Tire for $30 million
• Employee rights in Canada when a company closes

State of Hudson’s Bay

Hudson’s Bay officially filed for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) in March.

Facing nearly $1 billion in debt, the company has been trying to avoid a total shutdown by restructuring and looking for a potential buyer.

However, it wasn’t able to secure the financing needed to move forward with that plan.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.