17 h. ago Hudson Bay gets court approval to extend creditor protection to July 31

Gives Canada’s oldest department store more time to pay back what it owes

Economics

28 h. ago Hudson’s Bay expected back in court to extend creditor protection

TORONTO — Hudson’s Bay is due to return to an Ontario court today for the first time in roughly two weeks to seek a reprieve from the hundreds of businesses it owes money. The department store is expected to use the Tuesday morning appearance to ask Judge Peter Osborne to stretch the period of time […]

Economics

41 h. ago Toronto real estate giant's valuation loss over $200M in Hudson's Bay joint venture

RioCan Real Estate Investment Trust (REIT) has reported a quarterly loss and revised its annual earnings forecast downward due to the financial strain caused by its significant exposure to the dissolution of the Hudson's Bay Company (HBC), which recently sought creditor protection.In its first-quarter fiscal report for 2025, RioCan reported total valuation losses of $208.8 million in its property-based joint venture (JV) with Hudson's Bay, stemming from HBC's filing under the Companies' Creditors Arrangement Act (CCAA) earlier this year — an action the REIT formally opposed in a court motion."In Q1 2025, we took a write-down of our investment in the JV to reflect the current re-leasing assumptions. While we understand the uncertainty surrounding this situation has created some apprehension, we believe the market's reaction to RioCan is disproportionate in relation to our exposure to HBC and our ability to preserve at least some of the va...

Economics

42 h. ago Hudson's Bay liquidation sales end soon then stores in Canada close forever

After 355 years, beginning as a fur trading company incorporated by King Charles II, the end of Canada's oldest retailer is fast approaching.Hudson's Bay Company is expected to shutter all of its department store locations by June 2025, marking the final phase of a nationwide liquidation process that began in late March.In late April, the company confirmed it would close the last six stores that had initially been exempt from the first round of closures, including the heritage flagship stores in downtown Toronto and downtown Montreal, as well as Yorkdale Shopping Centre in Toronto, Hillcrest Mall in Richmond Hill, CF Carrefour Laval mall, and CF Fairview Pointe-Claire mall.According to a new court filing on Friday by the court-appointed monitor Alvarez & Marsal, liquidation sales at all 74 Hudson's Bay department stores and three Saks Fifth Avenue locations are currently expected to continue until no later than Sunday, June 1, 2025.As of last week, approximately 90 p...

Other

4 d. ago Hudson’s Bay garnered 17 bids in process to find new owner for retailer, assets: docs

TORONTO — A new court filing shows a process meant to find a new owner for Hudson’s Bay and its assets has yielded 17 bids. A report filed Friday by Alvarez & Marsal, a court monitoring firm guiding Canada’s oldest company through creditor protection, does not name the bidders but says the offers were made […]

Other

6 d. ago Hudson’s Bay insiders not bidding on business, assets or leases: court documents

A new court filing says several bids have been received for Hudson’s Bay assets, but no offers have come from company insiders. An affidavit from Jennifer Bewley, chief financial officer of the retailer’s parent company, indicates no insiders submitted a bid for the business or its assets by the April 30 deadline. The Bankruptcy and […]

Economics

7 d. ago From mannequins to decorative vases: A look at what Saks fixtures are up for sale

TORONTO — Mannequins galore, fashion-themed coffee table books and all the machinery you’d need to open a tailoring business. These are just some of the gems Hudson’s Bay is offloading as part of a fixture sale the 355-year-old retailer is running as it winds down its 80 stores and 16 more it operates under the […]

Other

7 d. ago Letters to the Sun: Hudson's Bay should return Indigenous artifacts to First Nations

It is regrettable that a company over 300 years old and inextricably part of Canadian history has fallen on such hard times that it must file for bankruptcy and be liquidated. In a recent news broadcast, I learned that the bankruptcy judge has given permission for the liquidators to auction off the Bay’s collection of […]

Culture

8 d. ago Court appoints law firm to represent Hudson’s Bay workers, retirees

TORONTO — An Ontario judge has decided which law firm will represent employees in the Hudson’s Bay creditor protection case. An endorsement filed by judge Peter Osborne on Monday named Ursel Phillips Fellows Hopkinson LLP as representative counsel to the faltering department store’s more than 9,000 employees and 3,000 retirees. The decision puts an end […]

Society

1 week ago Hudson’s Bay Company records give public chance to ‘reconnect’ with ancestors

WINNIPEG — Dyana Lavallee stares at a copy of a photograph on display to the public at the Hudson’s Bay Company Archives in Winnipeg. The Metis woman quickly recognizes it as the same one her grandmother had years ago. “This is my family,” she said referring to the figures in the picture. “I’m actually shaking […]

Economics

1 week ago Manitoba Indigenous leaders call for catalogue, collaboration from HBC

Manitoba Indigenous leaders say the Hudson's Bay Company (HBC) has yet to provide them with a list of the historic artifacts they intend to auction off, despite their requests.

Politics

1 week ago Assembly of First Nations joins calls for Hudson’s Bay to return ceremonial items

WINNIPEG — The Assembly of First Nations is joining calls for Hudson’s Bay to immediately halt the sale of artifacts and return any cultural, ceremonial and sacred items to the Indigenous communities that they belong to. National Chief Cindy Woodhouse Nepinak says some items may represent vital and genuine aspects of cultural heritage and identity. […]

Culture

1 week ago Canadian Tire is bidding on Hudson’s Bay assets, sources say

The 355-year-old retailer’s assets hit the sales block after it filed for creditor protection earlier this year

Other

2 w. ago As deadlines near for Hudson’s Bay and its leases, there are glimmers of hope

TORONTO — The clock is ticking down on two deadlines that may determine the fate of Hudson’s Bay. Anyone interested in buying Canada’s oldest company or assets like the rights to its iconic Stripes brand has until Wednesday at 5 p.m. to submit binding proposals. Those wanting to take on leases held by the 355-year-old […]

Events

2 w. ago Howard Levitt: Stiffing employees is a blight on Hudson’s Bay legacy

The fall of HBC should be about change, not nostalgia. Taking care of its employees could have been part of its legacy

Other

2 w. ago Archivists say Hudson’s Bay artifacts would be welcome additions to Manitoba collection

Amid store liquidations and a hunt for buyers for the business and its assets, the company announced it plans to have an auction for its art pieces and artifacts.

Culture

2 w. ago Trial set to begin in former world junior hockey players’ sexual assault case

All have pleaded not guilty to sexual assault, and court is expected to wrap up early today to allow jurors to vote in the federal election

Sport

2 w. ago Hudson’s Bay artifacts would be at home with prior Manitoba donations: archivists

Manitoba archivists caring for hundreds of thousands of Hudson’s Bay artifacts are hopeful the company’s most prized possession will wind up in public hands and it’s possible they have just the spot for the treasure. Those looking after collections Hudson’s Bay donated in 1994 to their employers — the Manitoba Museum and the Archives of […]

Culture

2 w. ago Hudson’s Bay artifacts should be given to the public: Wab Kinew

WINNIPEG — Manitoba’s premier says he wants Hudson’s Bay’s artifacts to be handed over to the public rather than put up for auction. Wab Kinew says items held by Canada’s oldest company are part of Canadian and Indigenous history and don’t belong in private hands. Hudson’s Bay is currently working toward an auction for its […]

Culture

2 w. ago Hudson’s Bay liquidation begins at final stores with markdowns of up to 70%

TORONTO — When the flagship Hudson’s Bay store in Toronto opened Friday morning, customers burst through the doors on a mission to find one thing: deals. Some jogged through the 675,700-square-foot store on Yonge Street in hopes of getting first pick of the company’s famed stripes merchandise. Others made a beeline for the jewelry department, […]

Sport