6 Hudson’s Bay Stores to Stay Open

A Canadian court has okayed Hudson’s Bay Co.’s (Toronto) plans to liquidate all but six of its stores. That move came after a week of often-contentious court hearings concerning the future of the troubled-but-historic retailer, which had filed for protection from creditors earlier this month.

More specifically, the Ontario Superior Court of Justice has granted Hudson’s Bay permission to proceed with a revised liquidation plan, which will temporarily exclude these six stores from the initial list of all stores it had presented to the court:

* Downtown Queen Street, Toronto
* Yorkdale Shopping Center, Toronto
* Hillcrest Mall, Richmond Hill
* Downtown Montreal
* Carrefour Laval, Laval, Quebec City
* Pointe-Claire, Quebec City

Meantime, liquidation sales will get underway at the retailer’s 74 other Hudson’s Bay stores, along with the three Saks Fifth Avenue and 13 Saks Off 5th stores it operates in Canada under a licensing agreement.

In a news release, Hudson’s Bay said the revised plan to keep the six stores open was bolstered by strong sales over the past week that far exceeded projections.

“We are extremely fortunate to have such an engaged community behind us,” said President and CEO Liz Rodbell. “Our associates have been met with extraordinary kindness from our customers—each of whom reflects the cherished relationships we have built together over generations.”

The company said will also continue to seek financial saviors for the enteprise, but warned that the six stores that have been given a reprieve from closing could still wind up shuttering, as well.