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OTTAWA — Founded in 1670 under an English royal charter, Hudson’s Bay Company leaves behind a legacy shaped by colonial expansion, commerce and Canadian retail history. From its beginnings as a fur trading business on Indigenous lands to its rise as a national department store chain, the company played a central role in shaping Canada’s economy and its identity.
A longtime pillar of main streets and malls, Hudson’s Bay, affectionately known as The Bay, spent its final years struggling to adapt to a rapidly changing retail landscape. Despite efforts to rebrand and expand its digital footprint, the company was weighed down by mounting debt, falling sales and competition from online giants.
The making of a Canadian institution
Hudson’s Bay began as a fur trading monopoly and expanded into a retail empire. Backed by the British Crown, it claimed vast Indigenous territories known as Rupert’s Land, establishing trading posts supporting economic and imperial aims. Its commercial success came at a cost to Indigenous communities, a legacy still felt today.
As the country evolved, so did the company. Hudson’s Bay transitioned from remote trading posts to a fixture of Canadian malls and downtown centres. Generations of Canadians purchased school supplies, winter coats and holiday gifts under its crest.
Its iconic multistripe point blankets became cultural symbols, featured in Olympic campaigns and heritage marketing. Yet the company’s history remained entangled with colonialism, trade and territorial control.
Final Days
Despite years of reinvention, Hudson’s Bay could not reverse its downward trajectory. The decline reflected a larger shift in Canadian retail, as legacy department stores such as Sears, Zellers and Eaton’s disappeared from malls across the country.
The company filed for creditor protection on March 7, 2025. A court approved its liquidation plan two weeks later. As of April, more than 80 stores are holding final clearance sales.
“To be honest, I never thought they’d keep going in business this long. They were so expensive. It was worse than the Sears,” said Roxanne Picknell, a vendor at Sirop D’érable in Ottawa’s ByWard Market. She recalled watching Kmart, Towers and Zellers disappear from the capital before The Bay followed.
Cheralynn Adie, 60, echoed the sentiment.
“I can remember this store being around since I was a child, and I’m 60 now. It used to be Woolworths at the top level of Hudson’s Bay,” Adie said. “It’s a part of the Canadian way, it’s a part of our institution, it really is, but you can’t get a pair of jeans in here for less than $100. It’s a shame.”
Both said they don’t believe the closure will have a significant effect on downtown Ottawa’s shopping economy.
SIDEBAR: A Colonial Legacy
Hudson’s Bay’s early profits were built on fur trading and land claims across Indigenous territories. Many of its trading posts became centres of colonial settlement and Indigenous displacement.
Historians and Indigenous scholars have called for greater public reckoning with the company’s role in facilitating British imperialism in Canada.
While Hudson’s Bay has acknowledged parts of its history, including through curated exhibits and educational partnerships, the company has not issued a formal apology to Indigenous communities.
Source: Truth and Reconciliation Commission of Canada; Stephen R. Bown, The Company: The Rise and Fall of the Hudson’s Bay Empire (2020); CBC Archives; Hudson’s Bay History Foundation.
Survived By
Hudson’s Bay survives — for now — through its digital storefront, TheBay.com, which remains active at the time of publication. Its long-term future, however, is uncertain.
⚠️ As of April 2025, there is no public confirmation of TheBay.com’s closure, though liquidation efforts may eventually affect the site. Updates can be found via Retail Insider or HBC’s corporate page.
Six stores were excluded from the liquidation process and remain operational:
- Toronto (Yonge and Queen Streets – flagship store)
- Yorkdale Shopping Centre, Toronto
- Hillcrest Mall, Richmond Hill, Ont.
- Downtown Montreal, Que.
- Carrefour Laval, Laval, Que.
- Fairview Pointe-Claire, Pointe-Claire, Que.
Timeline: The final chapter
March 7, 2025
Hudson’s Bay files for creditor protection
March 21, 2025
Court approves liquidation plan
April 2025
80+ locations begin clearance sales
The end of an era
Hudson’s Bay is remembered for its ambition and influence. From colonial trading routes to suburban malls, its 355-year journey mirrored Canada’s development — and its contradictions.
Though its storefronts are vanishing, the company’s legacy in commerce, memory and culture remains deeply woven into the country’s fabric.
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