What were once positioned as the four stripes that were recognizable by Canadians worldwide now sparingly lace abandoned shelves across the country dressed with ‘clearance’ tags.
The Hudson’s Bay Company has begun the process of liquidating all but six stores Canada-wide, with those remaining – three in Ontario and three in Quebec – still very much up for grabs if the company doesn’t present a comprehensive restructuring plan moving forward.
But the question on many people’s minds still remains: how did Canada’s oldest company fall into the hands of creditor protection? A name once emblematic of Canadian retail, history and culture, now grasping onto whatever capital (and hope) it can to sustain a presence in an online-dominated retail landscape.
Host Gurdeep Ahluwalia speaks with retail expert, Gary Newbury, about what lead to the slow burn of the Hudson’s Bay Company, and if the writing was on the wall-post pandemic for the fate of the country’s first company. The two discuss what the next months could look like for HBC, and what notes other retailers should be taking if they aren’t interested in falling next in line.
You can subscribe to The Big Story podcast on Apple Podcasts, Google and Spotify.
