-

Hudson’s Bay Company to Launch Separate Auction for Art and Historical Artifacts

Auction aims to involve participants committed to ensuring the Company’s most significant art and artifacts remain preserved for the benefit of future generations

TORONTO--(BUSINESS WIRE)--Hudson’s Bay Company ULC (Hudson’s Bay or the Company), as part of its ongoing restructuring under the Companies’ Creditors Arrangement Act (CCAA), today announced that subject to court approval, it intends to conduct a dedicated auction (the “Art Auction”) for the sale of its most historically significant art and artifacts.

Recognizing the extraordinary cultural and historical value of these items—including the Company’s Royal Charter and other artifacts deeply intertwined with Canadian history—HBC and its financial advisor, Reflect Advisors, LLC, with the consent of the court-approved monitor, have determined to hold the Art Auction apart from the broader Sale and Investment Solicitation Process (SISP). This approach ensures that the care, consideration, and expertise required for these pieces can be fully prioritized through a separate process facilitated by a fine art auction house with the assistance of HBC and Reflect Advisors, LLC.

Further details regarding the procedures relating to the Art Auction will be provided to the parties interested in participating in the Art Auction in due course.

About Hudson’s Bay Company ULC

Hudson’s Bay Company ULC is a Canadian entity that includes the retail company Hudson’s Bay, comprising 80 stores and TheBay.com. Through a licensing agreement, 3 Saks Fifth Avenue and 13 Saks OFF 5TH stores also operate in Canada under Hudson’s Bay Company ULC.

Additional Information

Court filings as well as other information related to Hudson’s Bay Company’s CCAA proceedings will be available on the Monitor’s website at www.alvarezandmarsal.com/HudsonsBay. Information regarding the CCAA process may also be obtained by calling the Monitor’s hotline at (416) 847-5157 (toll free), or by email at hudsonsbay@alvarezandmarsal.com. Hudson’s Bay will continue to provide updates regarding the CCAA proceedings as developments or circumstances may warrant.

Contacts

tiffany.bourre@hbc.com
VP, Corporate Communications

Industry:

Hudson’s Bay Company ULC

Release Versions
EnglishFrench

Contacts

tiffany.bourre@hbc.com
VP, Corporate Communications

More News From Hudson’s Bay Company ULC

Hudson's Bay Announces Liquidation of Remaining Stores

TORONTO--(BUSINESS WIRE)--Hudson’s Bay Company ULC (Hudson’s Bay or the Company), the Canadian entity comprising the retailer Hudson’s Bay and TheBay.com, will liquidate its remaining six Hudson’s Bay stores and one Saks Fifth Avenue location. At this time, the Company believes that a viable bid for the current six-store model is unlikely, and therefore will begin liquidation sales in these stores beginning Friday, April 25th. The remaining locations will join the 73 other Hudson’s Bay, 13 Saks...

Hudson’s Bay Announces Commencement of Court-Approved Sale and Investment Solicitation Process and Lease Monetization Process

TORONTO--(BUSINESS WIRE)--Hudson’s Bay Company ULC (Hudson’s Bay or the Company), the Canadian entity comprising the retailer Hudson’s Bay and TheBay.com, is announcing the commencement of: (i) a sale and investment solicitation process (the SISP), which was approved pursuant to an order granted by the Ontario Superior Court of Justice (the Court); and (ii) the commencement of a Court-approved lease monetization process (the Lease Monetization Process). The SISP is being conducted by Reflect Ad...

Hudson’s Bay Announces a Revised Liquidation Timeline

TORONTO--(BUSINESS WIRE)--Hudson’s Bay Company ULC (Hudson’s Bay or the Company), the Canadian entity comprising the retailer Hudson’s Bay and TheBay.com, today announced an update to its Companies’ Creditors Arrangement Act (CCAA) proceedings following a series of court-approved extensions. The Ontario Superior Court of Justice has granted Hudson’s Bay permission to proceed with a revised liquidation plan, which will temporarily exclude six stores from the initial list. This interim step gives...
Back to Newsroom