The end is now in sight for the remaining Hudson’s Bay stores.
According to a motion filed by the company on Monday night, the retailer is set to close all of its stores including the Prince George location on Parkwood Place, by Sunday – this will terminate over 8,000 workers.
The company added once the liquidation process is done 89% of its workforce will be slashed by June 1st.
The motion states roughly 900 of the remaining employees are expected to be terminated on or around June 15, while some will stay on to assist with the closures.
In addition, the court documents say up to 200 former and current employees with insured long-term disability plans will continue to receive payments past June 15, but 183 receiving other long-term disability benefits will see their coverage end.
Also coming to a close is a package of post-retirement health, dental and life insurance benefits, which about 2,200 retirees receive.
In March, Hudson’s Bay filed for creditor protection due to several issues paying its bills.
Canadian Tire acquired Hudson’s Bay intellectual properties for a price tag of 30-million dollars.
Hudson’s Bay was founded in 1670.
(From the Files of Brendan Pawliw staff)
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