Canada’s Oldest Retailer, With a 355-Year Legacy, Shuts Down

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The Hudson’s Bay Company, once a dominant force in North American commerce, has officially ceased operations after 355 years. Founded in 1670, the company shaped Canada’s commercial development and influenced the country’s economic and territorial expansion. By June 2025, the historic enterprise was dissolved, closing the chapter on one of the world’s longest-running companies.

A company that mirrored Canada’s evolution

The Hudson’s Bay Company began as a fur trading business under a royal charter from England. At its peak, it controlled land that accounted for a third of present-day Canada. Its trading posts helped establish early settlements and trade routes, many of which remain significant. As fur demand declined, the company transitioned into a major retail chain, becoming a fixture in Canadian malls and shopping districts.

Through colonial transitions, wars, and shifting markets, HBC remained a stable presence. It adapted over time by diversifying its offerings, acquiring competitors, and reshaping its public identity. By the mid-20th century, it was regarded not only as a retailer but also as a symbol of Canadian tradition.

Retail missteps, digital disruption, and pandemic pressures

Despite its historical resilience, HBC struggled to adjust to the pressures of modern retail. As online shopping gained traction, the company lagged behind competitors that embraced digital platforms and e-commerce innovation. Its attempts to modernize were slow and often misaligned with consumer expectations.

The COVID-19 pandemic significantly worsened these challenges. Prolonged lockdowns, supply chain issues, and changing spending habits hurt its brick-and-mortar locations. The company’s debt grew, and cost-cutting measures were insufficient. Even efforts to reposition the brand as a premium offering failed to produce lasting results.

In March 2025, HBC filed for creditor protection under the Companies’ Creditors Arrangement Act. By June, it had liquidated its remaining assets and closed all retail locations across Canada.

Brand legacy sold, retail spaces reimagined

As part of the liquidation, Canadian Tire acquired the Hudson’s Bay brand and intellectual property. The company has not disclosed how it plans to use the acquisition, but analysts suggest potential online brand revivals or strategic licensing.

Simultaneously, Ruby Liu Commercial Investment Corporation acquired 28 of HBC’s store leases, with plans to launch a new department store model. While some parts of the company will continue under new ownership, the original Hudson’s Bay Company has been permanently retired.

The end of HBC marks more than a corporate closure. It represents a cultural shift and the loss of a brand tied to Canadian identity. For decades, families shopped at Hudson’s Bay for seasonal goods, back-to-school supplies, and household items. The company’s catalogs, iconic stripes, and retail experiences left a lasting impression.

Sources:

• Seattle Times