End of an era after 355 years: Hudson's Bay Company permanently closed | Daily Hive

"Permanent closure" sign posted onto the entrances of Hudson's Bay in downtown Vancouver, shortly after 5 p.m. on Sunday, June 1, 2025. (Kenneth Chan)

Canada’s oldest retailer, Hudson’s Bay Company (HBC), officially closed all its remaining stores on the afternoon of Sunday, June 1, 2025, ending a 355-year legacy that began with fur trading and evolved into a national department store chain.

The closure marks a significant moment in Canadian retail history, as the company had been a fixture in the country’s commercial landscape since 1670.

The English Royal Charter of 1670, issued by King Charles II, incorporated the Hudson’s Bay Company as a fur trading giant in Rupert’s Land, an area now known as Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nunavut.

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The shutdown comes after HBC filed for creditor protection in March 2025 under the federal Companies’ Creditors Arrangement Act (CCAA), citing financial challenges including declining foot traffic, post-pandemic recovery issues, and more recent trade tensions.

Despite efforts to restructure, the company proceeded with liquidation sales, culminating in the closure of 80 Hudson’s Bay stores, three Saks Fifth Avenue locations, and 13 Saks Off 5th outlets across Canada.

The company’s website, thebay.com, was also taken down on Sunday, with only a single landing page taking its place and a link leading to the court-appointed monitor’s page dealing with Hudson’s Bay’s CCAA proceedings.

Hudson’s Bay Company’s website, as of June 1, 2025. (HBC)

While the stores have closed, the fate of Hudson’s Bay’s assets remains in flux. Canadian Tire Corporation has agreed to purchase HBC’s intellectual properties, including its iconic name, multicoloured stripes, and various private-label brands, for $30 million, pending court approval. This acquisition could lead to the revival of the Hudson’s Bay brand in some form, though details are yet to be finalized.

In addition, B.C. billionaire and mall owner Ruby Liu (Weihong Liu) has signed a definitive agreement to acquire up to 28 of Hudson’s Bay’s store leases in British Columbia, Alberta, and Ontario. Liu plans to launch a new department store concept in these locations. This is still subject to landlord and/or court approval.

The closure of Hudson’s Bay led to the termination of over 8,300 employees on Sunday, with an additional roughly 900 layoffs expected by mid-June as distribution centres shut down.

The loss of this retail giant not only affects the economy but also leaves a cultural void, as generations of Canadians have shopped at Hudson’s Bay for everything from clothing to home goods.

The company’s extensive collection of historical artifacts, including over 1,700 pieces of art and more than 2,700 artifacts, is also under review, with the most prized possession being the English Royal Charter — a key artifact of Canada’s founding history. There are plans to auction these items, but concerns have been raised by Indigenous communities and government entities about the potential sale of culturally significant objects.

With that said, many of the artifacts were previously donated to the Archives of Manitoba in 1993. In 2020, the charter was on display to the public for the very first time at the Manitoba Museum in Winnipeg.

As Hudson’s Bay winds down its operations, which is expected to reach completion as early as July, the retail landscape in Canada faces a period of transition.

The company’s departure leaves behind prime real estate in urban centres and raises questions about the future of department stores in the country.

While Canadian Tire and Liu’s ventures may carry forward aspects of the brand’s legacy, the era of Hudson’s Bay as a retail cornerstone has come to an end.

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