Pedro Marques | metromanTO @ipedro.com · Jun 3 I’m at the Ontario Superior Court in Toronto for the Hudson’s Bay CCAA hearing regarding the transfer of The Bay’s intellectual property to Canadian Tire and 28 of its stores to Ruby Liu. The unwinding of Canada’s oldest company — older than Canada itself — will occur here this morning. 🧵 1/*
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The Court has granted the sale of Hudson’s Bay’s Intellectual Property to Canadian Tire. That’s it, the Stripes join the red triangle.
38 #HudsonsBay stores are being bid on by 12 bidders. 58 stores are not being bid on. Council for Cadillac Fairview (Eaton Centre) and Oxford (Yorkdale, Square One) made a case for the damage being done to their malls by having these stores dark. They’re seeking expediency.
Justice Osborne has approved Wage Earner Protection Program Act (WEPPA) a Service Canada compensation of $8,141.59 per Hudson’s Bay employee. 8,347 employees have been terminated as of Sunday. #HudsonsBay
All stores have ceased retail operations. The End of an Era. — Justice Osborne #HudsonsBay