Iconic Canadian Department Store, Hudson’s Bay, Closes After 355 Years
2 min read
After 355 years in business, Canada’s oldest department store, Hudson’s Bay Company, has officially closed all its stores. Incorporated in 1670, the iconic retailer played a significant role in shaping the Canadian retail landscape.
Hudson’s Bay began major restructuring in the early 2020s, separating its operations into distinct entities, including Hudson’s Bay, Saks, Saks OFF 5TH, and HBC Properties and Investments. As consumer behaviour shifted due to the COVID-19 pandemic, Hudson’s Bay stores experienced a decline in foot traffic. Despite heavy investments in technology and digital channels, the company continued to struggle with underperforming physical locations.
In March of 2025, Hudson’s Bay filed for creditor protection under Canada’s Companies Creditors Arrangement Act (CCAA) and began liquidating stores across the country, aiming to keep six flagship locations. On June 1st, final liquidation sales ended, and all remaining stores were closed, marking the official end of the iconic department store chain. As a result, approximately 8,347 employees across 96 stores, four distribution centers, and corporate headquarters were terminated.
The closure of Hudson’s Bay flagship stores has released significant prime real estate space in Canada’s major downtown cities, including Toronto, Vancouver, Montreal, Calgary and Ottawa. With the exit of the country’s last full-scale department store chain, Canada marks the end of a defining era in its retail history, which once served as an anchor for both urban downtowns and suburban malls.
A total of 28 store leases across Ontario, British Columbia, and Alberta will be acquired by Ruby Liu Commercial Investment Corp, which is owned by mall owner Ruby Liu. The acquisition focuses on suburban properties and excludes flagship locations. Liu plans to launch a new department store with immersive shopping experiences designed for all age groups. Primaris REIT has also secured five leases and intends to repurpose the space.
Canadian Tire has purchased Hudson’s Bay’s intellectual property for $30 million and plans to bid on select store leases. This acquisition includes Hudson's Bay Company brand assets and trademarks, including its name, logos, coat of arms, and iconic stripes. Canadian Tire will also gain access to the website domains and customer data. This strategic deal strengthens Canadian Tire’s portfolio of Canadian brands and enables one of the country’s most iconic retailers to preserve the legacy of Hudson’s Bay.
The closure of North America’s oldest corporation marks a significant turning point for Canadian retail, culture, and national identity. However, Canadian Tire’s acquisition of the Bay’s intellectual property ensures that elements of the iconic brand will continue in the Canadian landscape.
References
Canadian Tire Corporation. (2025, May 15). Canadian Tire plans to steward the HBC coat of arms and stripes, with purchase of iconic Hudson’s Bay Company brand assets. Press Release Details. https://corp.canadiantire.ca/English/media/news-releases/press-release-details/2025/Canadian-Tire-plans-to-steward-the-HBC-coat-of-arms-and-Stripes-with-purchase-of-iconic-Hudsons-Bay-Company-brand-assets/default.aspx
Harris, S. (2025, June 3). Court OK’s Hudson’s Bay selling trademarks, like iconic stripes, to Canadian tire | CBC News. CBCnews. https://www.cbc.ca/news/business/hudon-s-bay-canadian-tire-1.7551035
Judd, A. (2025, June 2). Hudson’s Bay stores across Canada close for good Sunday. Global News. https://globalnews.ca/news/11207566/hudsons-bay-stores-canada-close-for-good-sunday/
Karim, N. (2025, May 27). Hudson’s Bay to close all stores and terminate 8,347 staff by June 1 | Financial Post. Financial Post. https://financialpost.com/news/retail-marketing/hudsons-bay-closing-stores-terminate-8347-staff-june-1
Patterson, C. (2025, June 12). The End of Hudson’s Bay Department Stores . Retail Insider. https://retail-insider.com/retail-insider/2025/06/the-end-of-hudsons-bay-department-stores/
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