Hudson's Bay Company
Corporate brand
UnclaimedA historic Canadian company that evolved from a chartered fur-trading enterprise into a department-store and commercial-property group before being liquidated in 2025.
Last updated August 27, 2026
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Overview
Hudson's Bay Company was founded in England in 1670 as The Governor and Company of Adventurers of England, trading into Hudson's Bay. Its royal charter, granted by King Charles II, gave it exclusive trading rights over Rupert's Land, broadly defined as the watershed draining into Hudson Bay. This territory covered a substantial part of present-day Canada and extended into the north-central United States. The company's early commercial system connected European manufactured goods with Indigenous trading networks, especially the exchange of blankets, metal goods, tools and other supplies for animal pelts. The company grew out of efforts by French-Canadian explorers Pierre-Esprit Radisson and Médard des Groseilliers to develop a more efficient route to the northern fur regions. Their expedition aboard Nonsuch reached James Bay in 1668, and the resulting cargo of furs demonstrated the viability of Hudson Bay commerce. HBC established coastal trading posts including Rupert House, Moose Factory, Fort Albany, New Severn, York Factory and Fort Churchill. York Factory later became the principal gateway to the interior. The company competed with French traders and endured repeated military attacks during the Anglo-French conflicts, but the Treaty of Utrecht in 1713 restored British control over the Hudson Bay region. For much of its early existence, HBC was not merely a commercial enterprise. Within Rupert's Land it exercised administrative and quasi-governmental authority, while its posts functioned as centers of trade, communication and supply. Indigenous peoples were essential participants in the fur economy, providing knowledge, transportation, trapping and trading relationships. The company's trading system used the made-beaver standard to compare the value of pelts and goods. Its point blankets became one of its most recognizable historic products. HBC expanded inland during the eighteenth century. Cumberland House, established in 1774, is commonly identified as its first permanent inland trading post, although other inland and island posts had existed earlier. In 1869 the company transferred Rupert's Land to Canada, ending its territorial role and enabling a major strategic shift toward retail and other commercial activities. The company established its namesake department-store business in 1881 and later acquired or developed Canadian retail chains including Zellers, Fields, Morgan's, Simpsons and Woodward's. Home Outfitters was launched in 1999. During the late twentieth and early twenty-first centuries, HBC became a multi-brand retail group. The Thomson family was a major shareholder from 1979 to 1992 and sold its final shares in 1997. Jerry Zucker acquired the company in 2006, taking it private. After Zucker's death in 2008, the company was acquired by NRDC Equity Partners and operated through Hudson's Bay Trading Company. HBC returned to the Toronto Stock Exchange in 2012 and remained publicly traded until 2020. Its later expansion included American luxury and department-store businesses such as Saks Fifth Avenue, Saks OFF 5TH and Lord & Taylor, while its Dutch operations were sold in 2019. In November 2024, its American assets were separated into Saks Global. By 2025, the remaining business centered on Hudson's Bay stores and Canadian Saks locations. HBC sought creditor protection in March 2025, closed its remaining stores by June, and sold its intellectual property to Canadian Tire. The company was subsequently renamed 1242939 B.C. Unlimited Liability Co. and liquidated. Its royal charter and art collection were auctioned, and store leases were sold or returned to landlords. The corporate entity therefore represents both one of North America's oldest companies and the end of a major Canadian retail institution.
History
Hudson's Bay Company originated in the seventeenth-century competition for control of the North American fur trade. Radisson and des Groseilliers, after finding French support inadequate, brought their plan for a Hudson Bay route to English commercial and political sponsors. The 1668 Nonsuch expedition reached James Bay and returned with a commercially valuable cargo of furs. On 2 May 1670, Charles II issued the royal charter incorporating the company and granting it exclusive rights over Rupert's Land, the drainage basin of Hudson Bay. HBC initially operated from coastal factories rather than an extensive network of inland settlements. Rupert House, Moose Factory, Fort Albany, New Severn, York Factory and Fort Churchill became important points of exchange. Indigenous hunters and traders were the central suppliers and commercial partners in the system. They exchanged pelts for European goods, while the company used standardized values based on the made-beaver pelt. Hudson's Bay point blankets became especially associated with the company and its trade. The company faced sustained French opposition. French forces captured or destroyed several HBC posts during conflicts from the late seventeenth century through the early eighteenth century. York Factory changed hands more than once, and in 1697 a French force under Pierre Le Moyne d'Iberville defeated a Royal Navy squadron and captured the post. The Treaty of Utrecht in 1713 returned the Hudson Bay posts and surrounding claims to Britain. HBC then strengthened its position, including through the construction of Prince of Wales Fort. In the eighteenth century, the company gradually increased its inland presence. Cumberland House, founded in Saskatchewan in 1774, marked an important stage in this development. The company's posts linked the Hudson Bay coast with the interior waterways of what became Canada. HBC also exercised authority over Rupert's Land, combining commercial privileges with governmental functions. That role ended when the territory was transferred to Canada in 1869. After the transfer, HBC diversified into landholding, transportation-related commerce and retailing. It established its namesake department stores in 1881 and subsequently absorbed or converted several Canadian regional department-store businesses. Zellers and Fields broadened its discount and mass-market reach, while Home Outfitters entered home furnishings. The retail portfolio later extended into the United States through Lord & Taylor, Saks Fifth Avenue and Saks OFF 5TH, and the company also operated stores in the Netherlands before selling those operations in 2019. Ownership changed repeatedly in the modern era. The Thomson family became a major shareholder in 1979, withdrew from the company over the following decades, and sold its remaining interest in 1997. Jerry Zucker purchased HBC in 2006 and made it private. Following his death in 2008, NRDC Equity Partners acquired the company. HBC returned to public trading in Toronto in 2012, with NRDC remaining its principal shareholder for part of that period, and was taken private again in 2020. The final phase saw a separation of the American businesses into Saks Global in 2024. HBC's remaining operations were concentrated in Canadian Hudson's Bay stores and Canadian Saks locations. Creditor-protection proceedings began in March 2025, followed by store closures and the disposal of intellectual property to Canadian Tire. The entity was renamed 1242939 B.C. Unlimited Liability Co. in August 2025. By the end of 2025, the historic company had effectively been liquidated, ending more than three and a half centuries of corporate continuity.
- 2025
Creditor protection and liquidation
[1]HBC entered creditor protection, closed its remaining stores and proceeded through liquidation.
- 2024
Saks Global separation
[1]The company's American assets were spun off into Saks Global.
- 2012
Return to public trading
[1]HBC returned to the Toronto Stock Exchange after operating privately under NRDC ownership.
- 2006
Jerry Zucker acquisition
[1]Jerry Zucker acquired HBC and took the company private.
- 1881
Namesake department-store business begins
[1]HBC established the department-store business that became Hudson's Bay.
- 1869
Rupert's Land transferred to Canada
[1]The company relinquished control of Rupert's Land, ending its territorial-government role.
- 1774
Cumberland House established
[1]HBC established Cumberland House in Saskatchewan, an important inland trading post.
- 1713
British control restored
[1]The Treaty of Utrecht required France to relinquish its Hudson Bay claims to Britain.
- 1684
York Factory established
[1]York Factory was established on Hudson Bay and later became the company's principal gateway to the interior.
- 1670
Royal charter granted
[1]Charles II incorporated the company and granted it exclusive trading rights over Rupert's Land.
Products and positioning
Historically a chartered fur-trading monopoly and territorial institution; in its later period, a diversified Canadian department-store and retail holding company with Canadian mass-market and American luxury operations.
Department-store retail · 1881
Hudson's Bay department stores
The company's namesake Canadian department-store chain, developed from HBC's post-fur-trade diversification. Stores sold apparel, accessories, beauty products, home merchandise and other general department-store categories. The chain represented HBC's central consumer-facing identity in its final decades and remained its principal operating business before the 2025 closures.
Luxury department stores
Saks Fifth Avenue
An American luxury department-store business acquired and operated within HBC's broader retail portfolio during the 2010s and later separated into Saks Global. Its assortment focused on designer fashion, accessories, beauty and luxury-oriented services.
Off-price retail
Saks OFF 5TH
An American off-price retail chain associated with Saks and HBC's American portfolio. It offered discounted fashion, footwear, accessories and home products through an outlet-oriented model before the American assets were placed into Saks Global.
Discount retail · 1978
Zellers
A Canadian discount-store chain acquired by HBC in 1978. Zellers expanded the company's reach beyond traditional department stores and served value-oriented shoppers with general merchandise, apparel, home products and other mass-market categories.
Textiles
Hudson's Bay Point Blankets
Wool blankets historically exchanged in the fur trade and distinguished by colored woven stripes or points indicating finished size. They became one of the most recognizable enduring symbols associated with Hudson's Bay Company and its Canadian heritage.
Controversies
2021
HBC apologizes over Indigenous representation on advisory board
Hudson's Bay Co. apologized after its advisory board for a BIPOC fashion-designers fund had no Indigenous members, and said the fund plans would not move forward until Indigenous voices were represented.
2021
Hudson’s Bay sues over Zellers trademarks
Hudson’s Bay Co. filed a Federal Court claim against members of the Moniz family, alleging trademark infringement, depreciation of goodwill and passing off involving Zellers-formative names and trademarks. The claims are allegations, and the defendants had not filed a response at the time of the report.
Brand decisions
2025
Wind-down of remaining retail operationsStrategyBackground
HBC filed for creditor protection as its remaining Canadian retail business faced financial distress.
Action taken
The company closed its remaining stores, sold its intellectual property to Canadian Tire and proceeded with liquidation.
Aftermath
The corporate entity was renamed 1242939 B.C. Unlimited Liability Co., and its leases, charter and other assets were disposed of.
2024
Separation of American retail assetsM&ABackground
HBC's portfolio included major American luxury and department-store businesses alongside its Canadian operations.
Action taken
The American assets were spun off into Saks Global.
Aftermath
The remaining HBC business was concentrated primarily in Canadian Hudson's Bay stores and Canadian Saks locations.
1869
Transfer of Rupert's LandStrategyBackground
The company held extensive territorial and governmental authority under its royal charter, but Canada's westward expansion created a new political framework.
Action taken
HBC transferred Rupert's Land to Canada and shifted its long-term emphasis toward commercial and retail activities.
Aftermath
The transaction ended the company's role as the governing power across the territory and began its transformation into a diversified commercial enterprise.
Recent events
Reported
HBC apologizes over Indigenous representation on advisory board[3]
Hudson's Bay Co. apologized after its advisory board for a BIPOC fashion-designers fund had no Indigenous members, and said the fund plans would not move forward until Indigenous voices were represented.
Reported
Hudson’s Bay and Rebelstork partner on baby-gear resale marketplace[5]
Hudson’s Bay partnered with Rebelstork to make Rebelstork’s marketplace for buying and selling baby-related products available through thebay.com.
Reported
Hudson’s Bay sues over Zellers trademarks[4]
Hudson’s Bay Co. filed a Federal Court claim against members of the Moniz family, alleging trademark infringement, depreciation of goodwill and passing off involving Zellers-formative names and trademarks. The claims are allegations, and the defendants had not filed a response at the time of the report.
Reported
Zellers pop-up opens inside Hudson’s Bay store[6]
Hudson’s Bay opened a Zellers pop-up shop inside its Burlington Centre location in Ontario.
Reported
Hudson’s Bay and Coach collaborate on a collection[7]
Hudson’s Bay and Coach collaborated on a collection featuring a zip wallet and a tote bag in two designs and two colours.
Reported
Hudson's Bay and Neo Financial announce credit card partnership[8]
Hudson’s Bay Co. and Neo Financial announced a partnership to offer a new Hudson’s Bay MasterCard.
Reported
Hudson’s Bay launches “Live a Colourful Life” campaign[9]
Hudson’s Bay introduced its “Live a Colourful Life” campaign and new brand direction, with the campaign planned to run across Canada on television, in cinemas, and on social and digital platforms.
Sources11 sources
- 1Hudson's Bay Companyen.wikipedia.org
- 2Hudson's Bay Company official websitehbc.com
- 3HBC apologizes over Indigenous representation on advisory boardctvnews.ca
- 4Hudson’s Bay sues over Zellers trademarksinfotel.ca
- 5Hudson’s Bay 与 Rebelstork 合作推出婴儿用品转售市场o.canada.com
- 6Zellers快闪店在Hudson’s Bay门店内开业dailyhive.com
- 7Hudson’s Bay 与 Coach 合作推出系列产品o.canada.com
- 8Hudson's Bay与Neo Financial宣布信用卡合作winnipegfreepress.com
- 9Hudson’s Bay推出“Live a Colourful Life”营销活动retail-insider.com
- 10Hudson's Bay teams up with Neo Financial to offer new Hudson's Bay MasterCardtoronto.citynews.ca
- 11Oct 2021: HBC sues Quebec retail family over Zellers brandwinnipegfreepress.com
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