Canada Hudson's Bay Company

The Bay begins liquidation. Established in 1670, the Hudson’s Bay Company (HBC) is the nation’s oldest retailer, initially operating a monopoly over Canada’s fur trade. It built a network of trading posts along waterways, which later evolved into major Canadian cities. HBC then transitioned from fur trading to department store retailing in the early 20th century, eventually operating over 80 stores across the country and becoming one of Canada’s most recognizable brands. In 2008, HBC was sold to a U.S. private equity shop, where poor management, e-commerce, the pandemic and recent trade tensions led to its demise in March 2025. All but six department stores are now set for closure, bringing millions of square feet of retail space back on the market. While HBC’s liquidation does pose a challenge, many believe this provides opportunities for investors and tenants alike.