Canada’s Oldest Company, Hudson’s Bay, Tries to Avoid Full Liquidation

Hudson’s Bay Co. ULC fought to avoid a full shutdown in a Toronto courtroom on Monday, asking for permission to begin liquidating most of its stores this week.

A lawyer for Canada’s oldest company, Ashley Taylor, said HBC’s efforts to solve its cash flow crisis have “failed.” Taylor also told a standing-room-only crowd at the Ontario Superior Court of Justice that if the retailer can’t find a workable solution with its creditors and landlords, it would need to fully liquidate.