Canada’s oldest retailer closes all stores, 8,300 employees face layoffs

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Hudson’s Bay, Canada’s oldest retailer, is shutting down all remaining stores and laying off more than 8,300 employees by June 1, 2025. The company, founded in 1670, has been struggling for years, and this marks the final chapter in its retail operations. This is not just another store closure. It is the end of an institution that shaped Canadian commerce for centuries.

The layoffs will affect 89 percent of Hudson’s Bay’s workforce. Court documents reveal that the company has been liquidating inventory, fixtures, and intellectual property to pay off secured debts. Employees will be let go in phases, with most losing their jobs by June 1, while a smaller group will remain temporarily to assist with final sales and distribution center closures. The scale of this shutdown is staggering, leaving thousands of workers scrambling for new opportunities.

The financial fallout is severe. Hudson’s Bay employees may be eligible for compensation under the Wage Earner Protection Program Act (WEPPA), but the process is complex, and many may not receive the full amounts owed. The company’s pension plan, which includes over 21,000 members, will continue, but other benefits, including post-retirement health and dental coverage, are being terminated. Workers are facing uncertainty, with limited options for financial recovery.

The closure is part of a broader trend in retail. Major chains have struggled with rising costs, shifting consumer habits, and competition from e-commerce. Hudson’s Bay, once a dominant force in Canadian retail, failed to adapt quickly enough. This is a warning sign for legacy brands—survival requires innovation, and those that fail to evolve will disappear.

Sources
https://retail-insider.com/retail-insider/2025/05/hudsons-bay-to-lay-off-8300-employees-as-stores-close/ https://www.cbc.ca/news/business/hudsons-bay-8300-employees-june-1-1.7544639 https://globalnews.ca/news/11199378/hudsons-bay-closure-layoff-plans-june/