[Shopping mall. Photo Credit to Pixabay]

Hudson’s Bay, Canada’s oldest retail company, announced in May 2025 that it will shut down permanently, marking the end of a business that has shaped Canada’s retail history for over 350 years.

The closure implies the end of the long and rich legacy of Canada's oldest retail store. 

Hudson’s Bay was founded in 1670, beginning as a fur trading business created to sell beaver pelts to Europe.

It was one of the first companies to trade deep into North America and quickly became a dominant force.

Over time, it evolved from a trading company into a major Canadian retail brand, opening department stores across the country.

In recent years, it was known as Hudson’s Bay with its online shopping website.

The company’s financial troubles developed over time. 

Over the last several years, Hudson’s Bay struggled with declining sales, fewer shoppers going to malls, and tough competition from online retailers like Amazon.

The COVID-19 pandemic also changed shopping habits. 

Many people now prefer to buy things online, and big department stores like Hudson’s Bay have had difficulty keeping up.

In March 2025, Hudson’s Bay filed for creditor protection under the Companies’ Creditors Act (CCAA), a legal process distinct from bankruptcy that allows financially distressed companies to pause debt payments while developing a restructuring plan.

Unlike bankruptcy, which typically leads to liquidation, creditor protection was intended to give Hudson’s Bay breathing room to find investors or buyers who could save the company.

During this process, Hudson’s Bay announced it would shut down its department stores, but its intellectual property was sold to Canadian Tire.

At the time, Hudson’s Bay operated approximately 80 stores and employed more than 9,000 people.

Even after filing for creditor protection, the company tried to keep some stores open, especially the large ones in Toronto and Montreal.

However, by April 2025, the company announced it would need to close almost all of its remaining stores, including those major locations.

Company officials explained that they could not find enough buyers or investors to save the stores.

Subsequently, in May, the company announced that it would be shutting down permanently.

Hudson’s Bay also operated websites and worked with high-end retail brands like Saks Fifth Avenue through a licensing agreement.

One surprising development came when Canadian Tire, another major Canadian retailer, showed interest in buying parts of Hudson’s Bay. 

Canadian Tire, which sells home, automotive, and sporting goods, has been looking to expand into department-style retail.

Industry reports suggest Canadian Tire may want to take over a few key store locations or buy some of Hudson’s Bay’s assets, such as private brands or its online platforms.

While nothing has been confirmed, many are watching to see if this deal could go through and help save parts of the company and some jobs.

Currently, the future of Hudson’s Bay remains unclear. 

Some experts believe the brand might return in a different form.

Instead of big department stores, it could focus on online shopping or Canadian-designed products.

It might also operate as just a few specialty stores or become more of a brand than a full retail chain.

Some fear this may be the end.

Even though the company is a huge part of Canadian history, that alone may not be enough to keep it viable in today’s fast-changing retail world.

Smaller companies with fresh ideas and more agile online systems are changing how people shop, and it’s been challenging for older companies like Hudson’s Bay to keep up.

Still, many Canadians feel personally connected to Hudson’s Bay.

It’s been around for more than 350 years, and people have memories of shopping there with their families or purchasing the company’s famous striped products.

For now, all eyes are on what happens next and whether Hudson’s Bay finds a way to survive or fades into history.