Hudson's Bay Gets More Time from Creditors
Edmonton News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Hudsons Bay Secures More Time from Creditors: Ontario Court Extends Protection Stay
An Ontario court has granted Hudsons Bay additional time away from its creditors, extending the retailers protection stay until June 30th. The initial stay, set to end on March 31st, halts new lawsuits and debt collection efforts against the company. This extension allows Hudsons Bay to manage art auctions, distribute hardship funds to former employees, and prepare for a pension surplus hearing. The protection, initiated last March when the company filed with approximately $1.1 billion in debt, has been extended multiple times, enabling Hudsons Bay to close stores, terminate leases, and sell off 4,400 pieces of art and artifacts.
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