North America's oldest corporation has struggled through decades of roller coaster business trends, management changes and repositionings.

Hudson’s Bay laid the groundwork for its creditor protection case when it spun its U.S. Saks locations off into a separate entity last year after it purchased luxury department stores Neiman Marcus and Bergdorf Goodman, essentially saving them from the impending closures now set to engulf HBC in Canada.

Hudson’s Bay is set for liquidation as JLL oversees lease sales, with stores closing by June 2025. The retailer’s future remains uncertain amid bankruptcy.

TORONTO — Canada’s oldest company Hudson’s Bay says it will begin liquidating its entire business as soon as next week unless it finds a more viable path forward. The department store chain with 80 stores says it has been forced toward a full liquidation because exhaustive efforts haven’t turned up the financing the company needs to restructure.

Hudson’s Bay may shutter permanently as it fails to secure restructuring funds. Liquidation sales could begin next week, marking the end of Canada’s last department store.

Hudson’s Bay Company says it will start liquidating its entire business and begin the process of closing all its stores, pending court approval. The announcement comes just days after the company applied for creditor protection.