The Hudson's Bay Company

The Hudson's Bay Company was chartered on May 2, 1670, by England's King Charles II, making it one of the oldest continuously operating companies in the world. Its original charter granted it exclusive trading rights over Rupert's Land, a territory covering roughly 40% of present-day Canada. HBC sold most of Rupert's Land to the new Dominion of Canada in 1869 for £300,000 — a transaction that directly enabled Canadian westward expansion.

From fur trader to department store

HBC's shift from fur trader to retailer culminated with its first proper department store opening in Winnipeg in 1881. Its most architecturally significant Toronto location was the former Simpson's flagship at Yonge and Queen, opened in 1896; HBC acquired the Simpsons chain in 1978 and converted the Queen Street building into a Bay flagship in 1991. By the 20th century, HBC — alongside rival Eaton's — anchored Canadian downtown shopping for generations.

The end, 2025

Owned since 2008 by U.S.-based investors, the retail arm sought protection under Canada's Companies' Creditors Arrangement Act in March 2025 and moved to full liquidation of its remaining Hudson's Bay department stores that spring, ending 355 years of continuous operation as a retailer. Commentators point to years of underinvestment, heavy real-estate leverage, and the shift to online shopping. The HBC name, coat of arms and iconic multi-stripe blanket pattern survived the liquidation as intellectual property, separate from the failed stores.

Sources

• France 24 — Hudson's Bay Company: From Fur Trade to Department Store Downfall
• Ontario Heritage Trust — The Bay, Queen Street Store