christiesplits
Senior Member
Walking through the Burlington location recently, I knew it was only a matter of time.
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Walking through the Burlington location recently, I knew it was only a matter of time.
ShonTron
Moderator
The Burlington Mall location that was already being liquidated? Or Mapleview?
Anyone could see this coming, though it remains sad. Yet not even Sears Canada had its escalators shut off in its last years.
christiesplits
Senior Member
Burlington Centre location was open until a few weeks ago. Even with the cheap liquidation prices, the place felt like a Ghost town.
PL1
Senior Member
I'd better go and spend my gift cards this weekend!
cslusarc
New Member
It's Clinique Bonus time @ Hudson's Bay.
christiesplits
Senior Member
matrix
Active Member
All I gotta say to this besides "we all saw this coming from kilometers away":
La Maison Simons... This is your time to shine
La Maison Simons... This is your time to shine
Jonny5
Senior Member
Brings back memories of the Eaton's shut down.
That liquidation was insane. They closed the stores for a few days and then reopened on a Saturday with a blanket 50% off on literally everything.
The stores were mobbed with people from the moment the doors opened to buy expensive TVs, shoes, jewellery, beauty products and half the inventory on the floor of the store was cleaned out by noon.
That liquidation was insane. They closed the stores for a few days and then reopened on a Saturday with a blanket 50% off on literally everything.
The stores were mobbed with people from the moment the doors opened to buy expensive TVs, shoes, jewellery, beauty products and half the inventory on the floor of the store was cleaned out by noon.
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gabe
Senior Member
I remember that too. That didn't happen when Sears, Target, Nordstrom, went out of business, because they jacked the prices up, to make it look like you're getting an amazing deal, when in fact you're paying more than the regular price was before the liquidation sale.
I remember going to Target's closing sale to buy CD's that were 50% off. They were still more expensive than HMV's regular price lol
matrix
Active Member
I have a hunch they used that location as a Winners-esque quasi-off-price liquidator for its last year. Source: I work at a Winners, and a lot of the stuff they were liquidating at the Burlington Centre I've either straight-up saw on the racks at Winners before, or the clothes would remind me of something we'd sell there...
Even that aside, they said they were going to shut it down June last year, but kept it open until last month just to liquidate stuff. When I went back in February 2024, they were clearing out higher-end items, and it wasn't until after the closing date change I started noticing the off-price outlet stuff going on those racks without an end in sight.
Where they liquidating their own stock or acting as an outlet retailer for other brands to try and recoup something...? I don't know, but I found that interesting. Maybe TJX will be losing a huge supplier from this
ShonTron
Moderator
Yep. There are only a few retail liquidators that all follow the same protocol to maximize the return to debtors. They put up the same generic “store closing” banners and signs. They start by offering a 10% or 15% discount on the full sticker price, which isn’t much of a deal. Any luxury or special items that would fetch a full price would probably get sold to another retailer rather then get sold on-site. Then increase it to 20-25%, which is enough of a deal that all the good stuff will go. By the time it’s 50% off, it’s nothing but dregs, and you’ll see stuff that came from other retailers sold off.
At that point, the remaining merchandise will be consolidated into fewer stores to reduce costs. The landlords will then be free to redemise the vacant space.
At that point, the remaining merchandise will be consolidated into fewer stores to reduce costs. The landlords will then be free to redemise the vacant space.
matrix
Active Member
That makes a lot of sense. I was going crazy seeing outlet Levi's jeans or weird MTV graphic shirts at the Burlington Centre Bay, because we had got a lot of those in at Winners for quite some time. I thought, no way these guys were selling this stuff when they weren't liquidating, or at other locations...
If memory serves they were doing discounts on top of already-discounted sticker prices, e.g. take additional % off sale price, so it made everything look like there was insane value for The Bay. I have a friend who got a $300 regular price DKNY coat down to $100 with the discounts when it was still supposed to shutter June 2024... Sounds good, but yet again, DKNY is something I really only see at Winners or Marshalls... and that same coat was probably sold there for the same price. Quite the sneaky way of paying down your debt. You learn something new every day
DSCToronto
Superstar
If true, it's a sad day to see a very old Canadian institution vanish. Particularly after vultures have hollowed it out!
thettctransitfanatic
Senior Member
Hudson’s Bay Facing Imminent Bankruptcy: Report
Hudson’s Bay is reportedly preparing for bankruptcy as financial woes deepen. With store closures and supplier concerns, the future of the retailer remains uncertain.
retail-insider.com
''Industry experts speculate that if Hudson’s Bay proceeds with bankruptcy, it could attempt to restructure its debt and continue operations in some form. However, given the company’s ongoing struggles and reliance on real estate sales to stay afloat, a more drastic reduction in store footprint—or even a full wind-down of the business—is also a possibility. One landlord told Retail Insider this week that they were hearing that about 50 of Hudson’s Bay’s stores could close with a bankruptcy filing''.
stevensontransit
Active Member
could some prime hudsons bay locations like scarborough town centre, eaton centre, yorkdale, sherway, and square one remain open but close some underperforming locations?Hudson’s Bay Facing Imminent Bankruptcy: Report
Hudson’s Bay is reportedly preparing for bankruptcy as financial woes deepen. With store closures and supplier concerns, the future of the retailer remains uncertain.
''Industry experts speculate that if Hudson’s Bay proceeds with bankruptcy, it could attempt to restructure its debt and continue operations in some form. However, given the company’s ongoing struggles and reliance on real estate sales to stay afloat, a more drastic reduction in store footprint—or even a full wind-down of the business—is also a possibility. One landlord told Retail Insider this week that they were hearing that about 50 of Hudson’s Bay’s stores could close with a bankruptcy filing''.