Liquidation sales at Hudson’s Bay’s remaining stores got underway this morning with a hearty showing from customers who revelled in discounts of up to 70 per cent.
At the ailing company’s flagship Toronto store on Yonge Street, a few customers lingered by the doors just before they opened at 10 a.m.
Once they made their way in, traffic quickly picked up as many made some of their final shopping trips at the department store now closing all 96 of its Bay, Saks Fifth Avenue and Saks Off Fifth stores.
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Many shoppers beelined for the company’s striped merchandise, as well as apparel, which was marked down by up to 50 per cent. Perhaps the busiest area was the jewelry department, where everything was discounted by 70 per cent.
In addition to the flagship, the new stores joining the liquidation are at Yorkdale mall in Toronto, Hillcrest Mall in Richmond Hill, Ont., downtown Montreal and Carrefour Laval mall and Pointe-Claire in Quebec.
While there are still a few days left to make a bid to save the business, the locations are entering liquidation because the company’s financial advisor has said there is a “low probability” that the firm will find a buyer for its remaining locations.
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