Historic Retail Empire Hudson's Bay Ends after 353 Years
Montreal, vrijdag, 13 juni 2025.
After more than three and a half centuries, the story of Hudson’s Bay, the longest-standing trading company in North America, is coming to an end. The company, originally founded by two French explorers in 1670, will sell all its assets and lay off 9,300 employees. This radical step marks the end of an exceptional retail tradition that dominated the North American retail market for decades. The liquidation represents not only the disappearance of an enterprise but also the end of a remarkable historical business culture that shaped Canada’s commercial development. It is a painful but inevitable chapter in the transformation of the modern retail sector.
The End of a Retail Giant
Hudson’s Bay, the longest-standing trading company in North America, will sell all its assets and lay off 9,300 employees [1]. The company, originally founded by two French explorers in 1670, has made a definitive decision to liquidate after 353 years [2].
Financial Challenges
The company was struggling with significant financial problems, particularly a debt of nearly 1 billion dollars [3]. Only six stores will be temporarily spared: three in Quebec, including the location in downtown Montreal, and three in Ontario [4].
Impact on Employees
The closure affects not only current employees but also retirees. Around 2,200 retirees have already seen their health and dental insurance terminated as of 30 April [5]. Some employees receiving disability benefits will get a temporary extension until 15 July, while negotiations for a potential support scheme continue [6].
New Opportunities
Despite the closure, some businesses operating within Hudson’s Bay are finding new partnerships. For instance, On Time Service Corp., a watch and jewellery repair company, has secured a new agreement with London Drugs [7].