In a shocking turn of events, Hudson's Bay has announced the liquidation of all its stores following its recent creditor protection filing in March. This marks the end of an era for the beloved Canadian retail chain.

Which Stores Are Closing?

Every single Hudson's Bay store will be part of this liquidation. Initially, the plan was to close all but six of its 80 locations, alongside three Saks Fifth Avenue and 13 Saks Off 5th stores in Canada. However, due to low chances of finding a buyer, the strategy shifted to a complete shutdown.

Timeline for Liquidation

The liquidation process must be completed by June 15 at the latest, but many stores could close even sooner. Notably, nine Saks OFF 5TH locations are already set to close their doors on April 27.

Unbelievable Discounts Await!

Shoppers can expect staggering discounts of up to 70% at Hudson's Bay, particularly on jewelry, indoor furniture, and mattresses. Apparel discounts include up to 50% off women's clothing and 40% off men’s and kids’ apparel. Saks Fifth Avenue offers discounts of up to 30%, while Saks Off Fifth presents savings ranging from 40% to 60%.

What's Not on Sale?

Be aware that discounts do not extend to the Stripes collection or select luxury brands, which remain full price.

Store Fixtures for Sale?

Exciting news for bargain hunters: Hudson's Bay plans to announce sales of select store fixtures, furnishings, and equipment in the coming weeks.

What About 'Stores Within A Store'?

The future for these in-store boutiques is unclear. While some want to remove inventory, others wish to participate in the liquidation. Specific vendors haven't been disclosed.

Can You Return Items?

For purchases made before April 25 at select locations, returns are accepted until May 4. Keep in mind, however, that all future purchases are final sales with no price adjustments on prior items.

Hudson's Bay Gift Cards and Rewards: What's Next?

Gift cards are no longer accepted as of April 6, impacting about $24.2 million in outstanding cards. Plus, the Hudson's Bay Rewards program has been paused, leaving over 8.2 million Canadians holding approximately $58.5 million in unspent points.

This liquidation signals the winding down of a significant retail presence in Canada, prompting many to rush in before it's too late. Get ready to shop, but act fast!