The Bay to liquidate 80 stores in Vancouver

The Bay, a well-known department store, is expected to start closing its 80 stores soon. This follows the company entering creditor protection earlier this month. The retailer plans to complete liquidations by mid-June, leading to the shutdown of its flagship location on Robson and Granville. This comes after Nordstrom also closed in downtown Vancouver in 2023, raising concerns about empty retail spaces in the city. Retail analyst David Ian Gray noted that the closures will affect downtown businesses. He believes the city will eventually redevelop these vacant spaces but acknowledges the retail sector has been facing significant challenges. “It’s Darwinian,” he said, referring to how some companies thrive while others fail. In addition to The Bay’s struggles, a major development at 800 Granville St. was canceled last year. Vancouver City Councillor Mike Klassen mentioned he hasn't discussed plans with The Bay but is aware of interest in the heritage building it occupies. Despite economic difficulties, he remains optimistic about the downtown area’s future. Klassen highlighted the importance of the Granville Entertainment District to the city and noted that the city is developing new plans for this area. New hotels have been proposed downtown as the city prepares for the 2026 FIFA World Cup, which is expected to boost the local economy. The future of The Bay remains uncertain. The company is still waiting for court permission to begin its liquidation process. However, it may hold back on some store closures if it secures additional financing.