Hudson's Bay loyalty points program indefinitely paused

Hudson’s Bay’s loyalty points program is currently paused, leaving millions of customers without a way to earn or redeem their points. Retail analyst Bruce Winder has warned that many will likely lose their points unless the company secures financing before May 1. Hudson’s Bay, Canada’s oldest company, may soon close all its stores due to severe financial troubles. The company is awaiting court approval to liquidate. The Ontario Superior Court is considering this case, and a liquidation process could start as soon as this week. Winder estimates that Hudson's Bay has about $58 million in liabilities related to its loyalty program. He mentioned that the company has not been paying landlords or suppliers, which are strong indicators of financial distress. He believes this situation has been expected by those following retail trends. As customers cannot currently redeem their points, Winder advises people to use their points rather than save them. He fears that points holders may be treated as unsecured creditors in any future sale of the company, meaning they would be last in line for any payouts. For those who have gift cards, they can still use them until April 6. However, this does little to ease concerns for those holding loyalty points.