Up to 40% off entire store at Hudson’s Bay liquidation sale at Toronto mall

All inventory is being sold at up to 40 per cent off at the Hudson’s Bay store at a Toronto area mall amid the company’s nation-wide liquidation.

Only six Hudson’s Bay stores will stay open in Canada including the flagship Yonge Street location in Toronto, while the rest have started clearing out its stock.

But one of the stores with big discounts is the Hudson’s Bay at Sherway Gardens where inventory is being sold off with between 15 to 40 per cent off.

Big sale discounts up to 60 per cent were also spotted at the Hudson’s Bay at Mississauga’s Square One Shopping Centre.

The liquidation is running until June 15 and Hudson’s Bay says the last day for returns with receipts for items bought before March 25 will be April 6.

The move could save some of the 9,364 jobs that would have been lost had the company moved to liquidate all of its stores, which was the plan until recent sales exceeded expectations.

Hudson’s Bay says it has notified about 200 of its staff working in corporate roles that their employment will be terminated later this week.

Cash from the liquidation sales will allow the company to pay a joint venture with RioCan Real Estate Investment Trust, which it owns some real estate through, up to $7 million monthly in rent.

It can now also pay back $16 million in financing it received from Restore Capital earlier in the month to keep it afloat.

– With files from The Canadian Press