Hudson's Bay Company

What happened to Hudson's Bay Company?
Hudson's Bay Company filed for creditor protection under the CCAA in January 2025 and subsequently wound down its retail operations, closing all remaining Hudson's Bay department stores. Canadian Tire Corporation acquired HBC's intellectual property, including the brand name and trademarks, for approximately $30 million CAD.

Is Hudson's Bay still open?
No. Hudson's Bay Company closed all of its department stores in 2025 following its CCAA filing. The Hudson's Bay brand name and trademarks were acquired by Canadian Tire Corporation, which may use them for future retail or licensing purposes.

When was Hudson's Bay Company founded?
Hudson's Bay Company was founded on May 2, 1670, by royal charter from King Charles II of England, making it Canada's oldest corporation and one of the world's oldest continuously operating companies.

Who owned Hudson's Bay Company before it went bankrupt?
Hudson's Bay Company was controlled by Richard Baker's NRDC Equity Partners, which took the company private in 2020 after it had been publicly traded on the Toronto Stock Exchange since 2012.

Who owns the Hudson's Bay brand now?
Canadian Tire Corporation acquired the Hudson's Bay intellectual property, including the brand name and trademarks, from HBC in 2025 for approximately $30 million CAD.

Hudson's Bay Company was founded on May 2, 1670, when King Charles II of England granted a royal charter to Prince Rupert and his associates, establishing the company as a fur trading enterprise with exclusive trading rights over the Hudson Bay watershed, an area known as Rupert's Land. This territory encompassed approximately 3.9 million square kilometers, or about 40% of modern Canada.

For nearly two centuries, HBC dominated the North American fur trade, operating a network of trading posts across Canada and competing fiercely with the rival North West Company. The two companies merged in 1821 under the HBC name. HBC played a central role in the exploration and mapping of western Canada, and its trading posts formed the nucleus of many Canadian cities including Winnipeg, Edmonton, and Calgary.

In 1870, HBC sold Rupert's Land to the newly formed Canadian government for 300,000 pounds sterling, retaining one-twentieth of the fertile belt of the prairies and its existing trading posts. The company gradually transitioned from fur trading to retail, opening its first department store in Winnipeg in 1881.

Throughout the 20th century, HBC became Canada's premier department store chain, operating under the Hudson's Bay, Zellers, Home Outfitters, and other banners. The company's iconic point blanket, featuring multicolored stripes, became one of Canada's most recognized symbols.

In 2008, American businessman Richard Baker's NRDC Equity Partners acquired HBC. Under Baker's ownership, HBC pursued an aggressive acquisition strategy, acquiring Saks Fifth Avenue in 2013 for approximately $2.4 billion and Lord and Taylor in 2012. HBC also expanded into Europe, acquiring Galeria Kaufhof in Germany.

HBC went public on the Toronto Stock Exchange in 2012 but was taken private again in 2020 when Baker and a group of investors acquired the remaining public shares.

The company struggled with mounting debt and declining retail traffic. HBC sold Saks Fifth Avenue's real estate and other assets, and closed Lord and Taylor in 2020. The COVID-19 pandemic accelerated HBC's financial difficulties.

In January 2025, Hudson's Bay Company filed for creditor protection under the CCAA. The company subsequently announced it would wind down its retail operations, closing all remaining Hudson's Bay department stores. In 2025, Canadian Tire Corporation acquired HBC's intellectual property, including the Hudson's Bay brand name and trademarks, for approximately $30 million CAD.

Hudson's Bay Company's history is inseparable from the history of colonialism in Canada. The company's fur trade operations and its control over Rupert's Land had profound and often devastating impacts on Indigenous peoples across Canada. HBC's trading relationships with Indigenous peoples, while economically significant, also contributed to the disruption of traditional ways of life and the spread of European diseases.

In its modern retail incarnation, HBC faced criticism for its aggressive acquisition strategy under Richard Baker, which loaded the company with debt that ultimately contributed to its financial difficulties. The 2025 bankruptcy and store closures resulted in the loss of thousands of jobs across Canada.