Shoppers seek deals at The Bay
Photo: The Canadian Press
Clearance signs sat atop racks of clothes at the Kamloops Hudson’s Bay store as shoppers—many carrying items bedecked with historic HBC stripes—browsed the aisles to try and find deals.
Hudson’s Bay has applied for creditor protection, saying it is struggling with financial difficulties amid a decrease in consumer spending. The company announced late last week that unless it finds a viable solution, it will begin liquidating its entire business.
“It’s really sad,” said one Kamloops shopper, who declined to give her name. “And now, what are we left with for department stores? Nothing.”
She said she was surprised at how busy the Aberdeen Mall store was on a Tuesday evening.
“I’ve been here before and you could drop a pin in this store, but now it’s really busy,” she said.
Prices too high?
Leah Turpin, who was shopping with a group of women, told Castanet Kamloops she found good sales on kids’ clothing—just a few dollars for one piece—but her group noted other things still seemed quite pricey, and it didn’t seem like the store was in a rush to get items off the shelves.
Another shopper, Laura, said she stopped by Aberdeen Mall as she was curious to check out The Bay amid news of the company’s struggles.
She, too, was disappointed at how expensive some items had become.
“It didn’t used to be like that,” she said, adding she felt the store offered better value in the 1960s. “I used to shop at The Bay all the time, and then they just went crazy. The prices are way too high.”
Some shoppers said they felt for the employees whose jobs were at risk.
A closure of the entire business would mean job losses for more than 9,300 employees across the company’s 80 Hudson’s Bay stores, as well as three Saks Fifth Avenue and 13 Saks Off 5th locations it owns.
In Kamloops since 1821
If approved by a court, a liquidation plan for the historic company could begin at all of its locations imminently and last for up to 12 weeks.
Hudson’s Bay lawyers have proposed a path forward that would allow the company to remove some stores from liquidation if it finds enough financing as it offloads its inventory. An Ontario Superior Court judge will continue to hear motions related to the company’s finances.
The company has said the situation has become so bad that it has deferred some payments to landlords, service providers and vendors, and was nearly unable to meet payroll obligations.
B.C. is home to 16 Hudson’s Bay locations, including the Kamloops store, which reopened in June 2024 after it was shuttered for nearly half a year due to strike action.
HBC dates back to 1670, making it the oldest company in Canada. It has been operating in Kamloops since 1821, when it merged with the North West Company.
— with files from the Canadian Press
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