Restore Capital, LLC, an affiliate of Hilco Global, together with other lenders, will provide interim debtor-in-possession financing to finance Hudson's Bay's operations in the lead up to the "comeback motion" hearing, with a Canadian $16 million advance approved earlier today. Hudson's Bay will be seeking additional financing to fund its operations during the CCAA proceedings, it indicated. "Hudson's Bay has been a vital retailer to Canadians for generations, and this decision was made with the best interests of our customers, associates and partners in mind," said Liz Rodbell, Hudson's Bay president and CEO. "While very difficult, this is a necessary step to strengthen our foundation and ensure that we remain a significant part of Canada's retail landscape, despite the sector-wide challenges that have forced other retailers to exit the market. Now more than ever, it is critical that Canadian businesses are protected and positioned to succeed."