Hudson’s Bay stores have started liquidating.
In Lethbridge, shoppers were outside before the store opened Tuesday, waiting to get a good deal.
Sale prices are currently between 15 and 40 per cent off.
And prices are expected to continue to drop.
But retail experts predict gradual markdowns because the company has an obligation to its creditors to optimize the value of its roughly $350 million in inventory.
“The bigger time for the sales comes later on in this liquidation process—the closer they get to the end,” said Mario Toneguzzi, Retail Insider co-editor-in-chief.
All closing stores are expected to be liquidated by June 15.
Just six Hudson’s Bay stores will stay open, but none of those stores are in Western Canada.
If you have a gift card, know they’re only accepted until April 6.
As of Feb. 1, Canadian customers had outstanding gift cards worth $24 million.
The loyalty program is paused while the creditor protection process continues—around eight million customers hold about 59 million unused points.
The company will not be accepting returns, with everything you buy at liquidation locations final sale.
With files from Teri Fikowski
