Hudson’s Bay to Close Final Stores and Auction Historic Artifacts

The last six Hudson’s Bay stores in Canada will begin liquidating merchandise this Friday, marking what could be the final chapter of the country’s oldest company. These locations were originally spared from closure, as executives hoped for a buyer. But court filings show those hopes have faded.

According to an affidavit from Adam Zalev, financial advisor for the company, it’s “unlikely” that any deal will emerge to save the six-store model. Instead, Hudson’s Bay will sell off all inventory by June 15, effectively closing its remaining doors and placing over 9,000 jobs at risk.

A Painful Close to a Canadian Icon

Founded in 1670, Hudson’s Bay once governed massive stretches of Canadian territory. It shaped Indigenous trade, commerce, and colonial governance.

But in recent decades, retail struggles, online competition, and urban decline have chipped away at its stability. In March, the company filed for creditor protection, sparking a series of liquidations across its 90 stores and luxury subsidiaries like Saks Fifth Avenue and Saks Off Fifth.

Cultural Outcry Over Historic Auction

Beyond retail, Hudson’s Bay is also under fire for planning to auction off over 4,000 historic items, including a royal charter from King Charles II and First Nations artifacts. Groups like the Assembly of Manitoba Chiefs are demanding that this auction be paused. They argue that many of the items hold sacred or cultural significance, and selling them off continues a legacy of colonial harm.

Grand Chief Kyra Wilson called the move “morally irresponsible” and requested that First Nations lead the review process before selling any artifacts.

What Happens Next?

Unless a last-minute bid saves the six stores, Hudson’s Bay will shut down completely by mid-June. Meanwhile, pressure is building for the company to transfer historically significant items to public institutions like the Archives of Manitoba.

This retail giant’s fall is more than just a business story—it’s the quiet end of a company that once helped shape the country itself.

Do you think Hudson’s Bay should stop the artifact auction and transfer its collection to public archives instead?

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