Ahead of location closures, the full liquidation of Hudson's Bay stores across Canada could begin as soon as this week.

North America's oldest corporation has struggled through decades of roller coaster business trends, management changes and repositionings.

Hudson’s Bay is set for liquidation as JLL oversees lease sales, with stores closing by June 2025. The retailer’s future remains uncertain amid bankruptcy.

Point blankets were used by European settlers and explorers to barter for furs with Indigenous peoples in today’s Canada as early as 1750.

Hudson’s Bay laid the groundwork for its creditor protection case when it spun its U.S. Saks locations off into a separate entity last year after it purchased luxury department stores Neiman Marcus and Bergdorf Goodman, essentially saving them from the impending closures now set to engulf HBC in Canada.

The Hudson’s Bay Company co-owns seven stores with RioCan REIT, according to Storeys.com, an online publication that tracks Canadian real estate. The website also reported that of the total $724.4 million mortgage on these seven stores, the largest one, at over $200 million, is tied to the downtown Vancouver store.

Hudson’s Bay Company says it will start liquidating its entire business and begin the process of closing all its stores, pending court approval. The announcement comes just days after the company applied for creditor protection.