Hudson's Bay Company
Coat of arms plaque on the exterior of the former flagship store in Downtown Toronto (2007) | |
| Formerly | The Governor and Company of Adventurers of England Trading Into Hudson’s Bay |
|---|---|
| Company type | Privately held |
| Industry | Retail |
| Genre | Department stores |
| Founded | 2 May 1670 in London, England |
| Founders |
|
| Fate | Creditor protection and liquidation |
| Successor |
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| Headquarters | |
Areas served | Canada |
Key people | Richard Baker (governor, executive chairman and CEO) |
| Revenue | CA$9.4 billion (2018) |
| CA$−631 million (2018) | |
Number of employees | 9,364 (at liquidation, 2025) |
| Parent | NRDC Equity Partners (2008–2025) |
| Subsidiaries | Hudson's Bay (1881–2025)
Previously defunct and/or divested
|
| Website | Archived official website |
| Footnotes / references [1][2][3][4] | |
| Part of a series on the |
| History of Canada |
|---|
|
The Hudson's Bay Company[a] (abbreviated HBC and colloquially Hudson's Bay[b]) is a Canadian holding company of department stores and commercial property. It is the oldest corporation in North America, founded in 1670 and currently being liquidated. It is headquartered at the Simpson Tower in Toronto.
The founding royal charter, issued by King Charles II, granted the company the right of "sole trade and commerce" over the Rupert's Land territory, the borders of which were based on the Hudson Bay drainage basin. It controlled the fur trade throughout English and later British North America, and was its de facto government until it relinquished control of the land to Canada in 1869. The company then diversifed with the ownership and operation of several retail businesses throughout the latter country. It established its namesake department stores in 1881, the Home Outfitters home furnishings stores in 1999, and acquired the Zellers and Fields discount stores in 1978. It also owned several regional department stores that were eventually converted to The Bay, including Morgan's, Simpsons, and Woodward's. Expansions beyond Canada included the United States, where it owned department stores including Lord & Taylor, Saks Fifth Avenue, and Saks Off 5th in the 2010s; and the Netherlands, where it sold its remaining stores in 2019.[5][6][7]
HBC was bought by American businessman Jerry Zucker in 2006, and acquired by NRDC Equity Partners in 2008 following Zucker’s death. It was operated by the NRDC holding company Hudson's Bay Trading Company until 2012. It went public on the Toronto Stock Exchange in 2012, and became privately held in 2020. The company spun-off its American assets into the holding company Saks Global in November 2024, and filed for creditor protection in March 2025. By this time, its business consisted only of Hudson's Bay stores and the Canadian locations of Saks. Following the closure of its remaining stores by June 2025 and the subsequent sale of its intellectual property to Canadian Tire, the Hudson's Bay Company was renamed 1242939 B.C. Unlimited Liability Co. in August 2025.[8][9]
- ^ Kari, Naimul (13 August 2025). "Hudson's Bay is now just a numbered company as it continues to sell its assets to repay creditors". Financial Post. Retrieved 13 August 2025.
- ^ "Hudson's Bay files for creditor protection, intends to restructure". CBC News. 7 March 2025. Retrieved 7 March 2025.
- ^ "HBC Corporate Headquarters". Hudson's Bay Company. Retrieved 4 July 2024.
- ^ Austen, Ian (1 June 2025). "A 355-Year-Old Company That Once Owned One-Third of Canada Is Shutting Down". New York Times. Retrieved 1 June 2025.
- ^ Jackson, Adam (21 June 2021). "Saks Off 5th Will Become $1 Billion Standalone Online Business". Bloomberg.
- ^ Thomas, Lauren (5 March 2021). "Saks Fifth Avenue owner spins e-commerce site into separate business". CNBC.
- ^ Alex Herring (4 July 2024). "Saks Fifth Avenue parent HBC to acquire Neiman Marcus Group in $2.65 billion deal". CNBC. Retrieved 4 July 2024.
- ^ Chan, Kenneth (21 March 2025). "It's official: Hudson's Bay to liquidate, and close all but six stores". Daily Hive. Daily Hive Vancouver. Retrieved 24 April 2025.
- ^ Cite error: The named reference
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