Editing Hudson's Bay Company (section)

== 21st century history ==
In December 2003, Maple Leaf Heritage Investments, a [[Nova Scotia]]-based company created to acquire shares of Hudson's Bay Company, announced that it was considering making an offer to acquire all or some of the common shares of Hudson's Bay Company.<ref name="Privco">{{Cite web |title=Hudson's Bay Company |url=http://www.privco.com/private-company/hudson-bay-company |access-date=7 October 2015 |website=Privco.com}}</ref> Maple Leaf Heritage Investments is a subsidiary of B-Bay Inc. Its CEO and chairman is American businesswoman [[Anita Zucker]], widow of [[Jerry Zucker (businessman)|Jerry Zucker]]. Zucker had previously been the head of the Polymer Group, which acquired another Canadian institution, [[Dominion Textile]].

It had been a member of the [[International Association of Department Stores]] from 2001 to 2005.<ref>{{Cite web|title=List of members|url=https://www.iads.org/web/home-public/2285-list-of-members.php|access-date=2021-06-20|website=www.iads.org}}</ref> On 26 January 2006, the HBC's board agreed to a bid from Jerry Zucker. The South Carolina billionaire financier was a longtime HBC minority shareholder. In a 9 March 2006 press release,<ref>{{Cite press release |title=Hudson's Bay Company Announces Realignment of Senior Management Team and Appoints New Board of Directors |date=9 March 2006 |publisher=Hudson's Bay Company |url=http://www.hbc.com/hbc/mediacentre/press/hbc/press.asp?prId=214 |last1=Stauth |first1=Hillary |access-date=6 October 2015 |archive-url=https://web.archive.org/web/20060316021530/http://www.hbc.com/hbc/mediacentre/press/hbc/press.asp?prId=214 |archive-date=16 March 2006}}</ref> the HBC announced that Zucker would replace [[Yves Fortier (lawyer)|Yves Fortier]] as governor and [[George Heller]] as CEO, becoming the first US citizen to lead the company. After Jerry Zucker's death, the board named his widow, Anita Zucker, as HBC Governor and HBC Deputy-Governor Rob Johnston as CEO.<ref name="Privco" />

On 16 July 2008, the company was sold to [[NRDC Equity Partners]] for just over $1.1 billion,<ref>{{cite news |last1=Wong |first1=Tony |title=The Bay sold to U.S. retailer |url=https://www.thestar.com/news/2008/07/17/the_bay_sold_to_us_retailer.html |website=Toronto Star |date=17 July 2008 |access-date=2 February 2022 |archive-date=29 October 2021 |archive-url=https://web.archive.org/web/20211029193452/https://www.thestar.com/news/2008/07/17/the_bay_sold_to_us_retailer.html |url-status=dead}}</ref> a private equity firm based in [[Purchase, New York]], which already owned [[Lord & Taylor]], the oldest department store in the United States.<ref name="GT-DEX-2008-19">{{Cite news |last=Bell |first=Kevin |date=1 September 2012 |title=NRDC Buys Hudson's Bay, Says Lord & Taylor to Expand (Update2) |work=Bloomberg |url=https://www.bloomberg.com/apps/news?pid=newsarchive&refer=canada&sid=aycn1XaTmvXI |access-date=16 July 2008}}</ref><ref>{{Cite news |last=Friend |first=David |date=16 July 2008 |title=New owner to spruce up Bay |work=Toronto Star |url=https://www.thestar.com/Business/article/461506 |access-date=16 July 2008 |archive-date=22 October 2012 |archive-url=https://web.archive.org/web/20121022181607/http://www.thestar.com/Business/article/461506 |url-status=dead}}</ref> The Canadian and US holdings were transferred to NRDC Equity Partners' holding company, [[Hudson's Bay Trading Company]], as of late 2008.<ref>{{Cite web |date=16 July 2008 |title=NRDC Equity snaps up Hudson's Bay Co |url=https://www.reuters.com/article/us-hudsonsbay-idUSN1639158120080716 |work=Reuters}}</ref>

[[File:HBC Logo.svg|thumb|HBC's [[Coat of arms of the Hudson's Bay Company|coat of arms]] logo (used from 2009 to 2013)<ref name="Coat of Arms" />]]
In October 2012, the HBC announced a $1.6 billion [[initial public offering]] (IPO); Baker planned to use the IPO to allow Canadian ownership to return to the company, and to help pay off debts with other partners. Additionally, the company also announced that it would re-brand The Bay department store chain as "Hudson's Bay".<ref name="gandm-ipo">{{Cite news |last=Strauss |first=Marina |date=17 October 2012 |title=HBC launches IPO as new rivals loom |work=[[The Globe and Mail]] |location=Toronto |url=https://www.theglobeandmail.com/globe-investor/hbc-launches-ipo-as-new-rivals-loom/article4618187/ |access-date=24 October 2012}}</ref> The new Hudson's Bay brand was launched in March 2013, incorporating a new logo with an updated rendition of the classic [[Coat of arms of the Hudson's Bay Company|Hudson's Bay Company coat of arms]], designed to be modern and better reflect the company's heritage. Following the IPO, HBC had also introduced a new corporate logo of its own (reviving a [[wordmark]] from the original [[Flag of the Hudson's Bay Company|HBC flag]]), but the new logo was not intended to be a consumer-facing brand.<ref>{{Cite news |last=Krashinsky |first=Susan |date=11 March 2013 |title=New logo, old name: The Bay returns to its roots |work=The Globe and Mail |location=Toronto |url=https://www.theglobeandmail.com/report-on-business/industry-news/marketing/new-logo-old-name-the-bay-returns-to-its-roots/article9356220/ |access-date=12 March 2013}}</ref><ref>{{Cite press release |title=Hudson's Bay Celebrates Its Past, Present and Future with Modern New Logo |date=2013-03-06 |publisher=Hudson's Bay Company |url=http://www.marketwire.com/press-release/hudsons-bay-celebrates-its-past-present-and-future-with-modern-new-logo-tsx-hbc-1765078.htm |access-date=6 March 2013}}</ref><ref name=":0" />

In January 2016, HBC announced it would expand deeper into digital space with the acquisition of an [[e-commerce|online]] flash sales site, the [[Gilt Groupe]], for {{Currency|250 million|USD}}.<ref>{{Cite news |last=Picker |first=Leslie |date=7 January 2016 |title=Saks Owner Clinches Deal for Gilt Groupe |url=https://www.nytimes.com/2016/01/08/business/dealbook/saks-owner-clinches-deal-for-gilt-groupe.html |url-access=limited |url-status=live |archive-url=https://ghostarchive.org/archive/20220102/https://www.nytimes.com/2016/01/08/business/dealbook/saks-owner-clinches-deal-for-gilt-groupe.html |archive-date=2022-01-02 |access-date=23 October 2016 |publisher=[[CBC News]]}}{{cbignore}}</ref><ref>{{Cite news |last=Langone |first=Alix |date=2018-06-04 |title=Rue La La Buys Gilt Groupe, Combining Two Popular Flash Sale Sites |url=http://fortune.com/2018/06/04/rue-la-la-buys-gilt-groupe-combining-two-popular-flash-sale-sites/ |access-date=6 June 2018 |work=[[Fortune (magazine)|Fortune]]}}</ref> HBC also announced its expansion into the Netherlands in May 2016 with the takeover of 20 former [[Vroom & Dreesmann]] (V&D) sites by 2017. V&D, a historic Dutch department store chain, had gone [[bankrupt]] and shut down in early 2016.<ref>{{Cite news |date=17 May 2016 |title=HBC to expand to the Netherlands |publisher=[[CBC News]] |url=http://www.cbc.ca/news/business/hbc-bay-saks-netherlands-1.3585549 |access-date=17 May 2016}}</ref> As of November 2017, the company also expanded retail operations into Europe, including five Saks Off Fifth stores in Germany.<ref name="financialpost.com">{{Cite news |last=Shaw |first=Hollie |date=1 November 2017 |title=HBC mulls reported 3&nbsp;billion euro offer for lagging European business |url=http://business.financialpost.com/news/retail-marketing/hbc-mulls-reported-3-billion-euro-offer-for-lagging-european-business |access-date=10 January 2018 |newspaper=Financial Post}}</ref>

On 1 April 2018, HBC disclosed that more than five million credit and debit cards used for in-store purchases had been recently breached by hackers. The compromised credit card transactions took place at Saks Fifth Avenue, Saks Off 5th, and Lord & Taylor stores. The hack had been discovered by Gemini Advisory, which called the breach "amongst the biggest and most damaging to ever hit retail companies".<ref>{{Cite news |last=Wattles |first=Jackie |date=2018-04-01 |year= |title=Saks, Lord & Taylor breach: Data stolen on 5 million cards |url=https://money.cnn.com/2018/04/01/technology/saks-hack-credit-debit-card/index.html |access-date=6 April 2018 |work=[[CNN Money]]}}</ref> A July 2019 hack of [[Capital One]], which provides HBC Mastercards, did not affect the HBC credit cards or card applications, according to HBC.<ref>{{cite web |url=https://www.cbc.ca/news/business/capital-one-data-breach-1.5230287 |title=Everything Canadians need to know about the Capital One data breach |work=CBC News |last=Bennardo |first=Melissa |date=30 July 2019 |access-date=22 March 2022}}</ref>

In June 2019, a consortium including chairman [[Richard A. Baker (businessman)|Richard Baker]], [[Rhône Group]], [[WeWork]], Hanover Investments ([[Luxembourg]]) and Abrams Capital Management announced that it wanted to take the company private.<ref>{{cite web |last=Hirsch |first=Lauren |date=10 June 2019 |title=Chairman of Saks-owner Hudson's Bay Co. puts in bid to take retailer private |url=https://www.cnbc.com/2019/06/10/chairman-of-saks-owner-hudsons-bay-company-bids-to-buy-retailer.html |access-date=22 March 2022 |work=[[CNBC]]}}</ref> The group then owned just over 50 per cent of HBC shares. In mid-August, the consortium said that it owned 57 per cent of the HBC shares. By 19 August 2019, however, Canadian investment firm [[Newton Glassman|Catalyst Capital Group Inc.]] said it had acquired enough shares to block the plan. A US company, Land & Buildings Investment Management, the owner of over 6 per cent of the shares, had also criticized the Baker plan.<ref>{{cite web |url=https://www.businessoffashion.com/articles/news-analysis/saks-owner-hudsons-bay-co-mulls-privatisation-proposal |title=Can Going Private Save Hudson's Bay Company? |work=Business of Fashion |last=Chen |first=Cathaleen |date=10 June 2019 |access-date=22 March 2022 |url-access=subscription}}</ref><ref>{{cite web |url=https://www.cbc.ca/news/business/hbc-catalyst-1.5251855 |title=Catalyst buys 18M HBC shares in move to block privatization plan |work=CBC News |date=19 August 2019 |access-date=22 March 2022}}</ref><ref>{{cite news |last1=Schechter |first1=Barbara |last2=Edmiston |first2=Jake |date=19 August 2019 |title=Catalyst adds to stake in HBC as battle over retailer's fate heats up |url=https://business.financialpost.com/news/retail-marketing/catalyst-adds-to-stake-in-hbc-as-battle-over-retailers-fate-heats-up |access-date=22 March 2022 |work=[[Financial Post]]}}</ref> In March 2020, Baker and a group of shareholders were successful in taking the company private.<ref>{{cite news |last1=Shecter |first1=Barbara |date=27 February 2020 |title=Baker's HBC privatization bid approved after plenty of 'noise and aggravation' |url=https://financialpost.com/news/retail-marketing/hudsons-bay-co-shareholders-vote-overwhelmingly-to-take-canadas-oldest-retailer-private |access-date=2 February 2022 |website=[[Financial Post]]}}</ref>

Aside from [[Hudson's Bay (department store)|Hudson's Bay]], [[Saks Fifth Avenue]], and [[Saks Off Fifth]], HBC sold [[Galeria Kaufhof]], [[Galeria Inno]], [[Gilt Groupe]], and [[Lord & Taylor]] by August 2019. In June 2018, HBC announced it would sell Gilt Groupe to online fashion store Rue La La for an undisclosed sum. In June, 2019 HBC announced its intent to sell the last 49.99 per cent of Galeria Kaufhof shares it held to Austrian firm [[Signa Holding]]. In August, 2019 Lord & Taylor was sold to [[Le Tote]] for $75 million.<ref>{{cite news |last1=Hirsch |first1=Lauren |last2=Wu |first2=Jasmine |date=28 August 2019 |title=Hudson's Bay to sell Lord & Taylor for $100 million to clothing rental service Le Tote |url=https://www.cnbc.com/2019/08/28/hudsons-bay-to-sell-lord-taylor-for-100-million-to-le-tote.html |work=[[CNBC]] |publisher=}}</ref> The remaining stores in the [[Netherlands]] were sold by the end of 2019.<ref>{{cite news |last1=Valinsky |first1=Jordan |date=21 October 2019 |title=The owner of Saks Fifth Avenue is going private |url=https://edition.cnn.com/2019/10/21/business/hudsons-bay-company-private/index.html |access-date=2025-03-28 |work=[[CNN Business]] |publisher=}}</ref><ref>{{cite news |date=31 August 2019 |title=Hudson's Bay to close Dutch stores |url=https://www.reuters.com/article/hudsons-bay-netherlands/hudsons-bay-to-close-dutch-stores-newspaper-idUSL5N25R0CT |access-date=2025-03-28 |work=[[Reuters]] |publisher=}}</ref>

By early September 2019, it was clear that HBC was streamlining its operations, with the sales of [[Galeria Kaufhof]], [[Galeria Inno]], [[Gilt Groupe]], and [[Lord & Taylor]] as the most recent steps. A feature article by [[Bloomberg News]] mentioned that CEO [[Helena Foulkes]], recruited in 2018, "had helped improve the bottom line at Hudson's Bay". She was selling assets "to put the company on more solid financial footing" and could then focus on Saks Fifth Avenue and the Bay. On the other hand, Bloomberg suggested that millennial shoppers prefer to make purchases online, or direct from various brands' own stores, and that HBC "has yet to offer something they can't find somewhere else and risks drifting into irrelevance".<ref>{{cite web |last1=Rastello |first1=Sandrine |last2=Robinson |first2=Ashley |date=5 September 2019 |title=Founded in 1670 to Trade Furs, Hudson's Bay Chases Relevance |url=https://www.bloomberg.com/news/articles/2019-09-05/hudson-s-bay-millennial-shoppers-are-shunning-department-stores |url-access=subscription |access-date=22 March 2022 |work=[[Bloomberg News]]}}</ref>

In February 2020, shareholders of the company voted in favour of a plan to become a private company at a special meeting of shareholders. Under the plan of arrangement, the company will be owned by a group of continuing shareholders led by HBC governor and executive chairman Richard Baker. Effective 3 March 2020, the company was delisted from the [[Toronto Stock Exchange]], with [[Richard A. Baker (businessman)|Richard A. Baker]] replacing Foulkes as CEO.<ref>{{Cite press release |title=Hudson’s Bay Company Announces Court Approval of Privatization Transaction |date=2020-02-28 |publisher=[[Business Wire]] |location=Toronto & New York |url=https://www.businesswire.com/news/home/20200228005441/en/Hudsons-Bay-Company-Announces-Court-Approval-of-Privatization-Transaction |via= |access-date=2025-03-28}}</ref><ref>{{Cite news |last=Deschamps |first=Tara |date=3 March 2020 |title=HBC chairman Richard Baker replacing Helena Foulkes as CEO |url=https://www.theglobeandmail.com/business/article-helena-foulkes-to-step-down-as-hudsons-bay-ceo-chairman-richard/ |access-date=2025-03-28 |work=[[The Globe and Mail]]}}</ref>

In 2023, Hudson's Bay officially stopped selling animal fur products.<ref>{{Cite news |last=Feitelberg |first=Rosemary |date=2023-03-23 |title=Hudson’s Bay Company Officially Goes Fur-free |url=https://wwd.com/fashion-news/designer-luxury/hudsons-bay-company-officially-goes-fur-free-peta-1235593248/ |access-date=2025-03-28 |work=[[Women's Wear Daily]]}}</ref>

=== Acquisition and sale of other chains ===
From 2004 to 2008, the HBC owned and operated a small chain of off-price stores called [[Designer Depot]]. Similar to the [[Winners]] and [[HomeSense]] retail format, Designer Depot did not meet sales expectations, and its nine stores were sold.<ref>{{Cite web |title=Hudson's Bay Eager to Log Onto New Era |url=http://www.financialpost.com/story.html?id=428721 |url-status=dead |archive-url=https://web.archive.org/web/20080516083404/http://www.financialpost.com/story.html?id=428721 |archive-date=16 May 2008 |access-date=8 April 2008 |website=Financial Post/National Post}}</ref> Another HBC chain, [[Fields (department store)|Fields]], was sold to a private firm in 2012.<ref>{{Cite web |date=1 May 2012 |title=Fields Stores to Flourish Again in Western Canada |url=http://www.newswire.ca/en/story/964933/fields-stores-to-flourish-again-in-western-canada |url-status=dead |archive-url=https://web.archive.org/web/20120606230619/http://www.newswire.ca/en/story/964933/fields-stores-to-flourish-again-in-western-canada |archive-date=6 June 2012 |access-date=1 June 2012 |publisher=Canada Newswire}}</ref> Established in 1950, Fields was acquired by [[Zellers]] in 1976. When Zellers was acquired by HBC in 1978, Fields became part of the HBC portfolio.<ref>{{Cite web |title=Our History: Acquisitions: Retail: Fields |url=http://www.hbcheritage.ca/hbcheritage/history/acquisitions/retail/fields |website=HBC Heritage |access-date=16 September 2013 |archive-date=1 September 2014 |archive-url=https://web.archive.org/web/20140901003241/http://www.hbcheritage.ca/hbcheritage/history/acquisitions/retail/fields |url-status=dead }}</ref> 
In early 2017, the Hudson's Bay Company made an overture to [[Macy's]] for a potential takeover of the US department store chain. Later, HBC also considered a purchase of [[Neiman Marcus Group]] Inc. It did not proceed with either deal.<ref>{{Cite news |last=Strauss |first=Marina |date=9 June 2017 |title=No timeline for turnaround as HBC cuts deep |url=https://beta.theglobeandmail.com/report-on-business/hbc-cuts-2000-jobs-in-face-of-retail-headwinds/article35263541/ |access-date=10 January 2018 |website=[[The Globe and Mail]]}}</ref>
On March 16, 2022, it was announced that HBC and [[Sycamore Partners]] were preparing bids to buy [[Kohl's]].<ref>{{Cite web |last=Thomas |first=Lauren |date=2022-03-16 |title=Kohl's shares jump 17% after reports say Hudson's Bay, Sycamore are preparing bids |url=https://www.cnbc.com/2022/03/16/kohls-shares-jump-after-report-says-hudsons-bay-is-considering-buyout-bid.html |access-date=2022-05-10 |website=[[CNBC]] |language=en}}</ref>

=== Zellers ===
[[File:Kmart Zellers Nepean, ON (38534115376).jpg|thumb|One of the only two [[Zellers]] stores in the country in 2017. This store was operating in [[Ottawa]]]]

In September 2011, the HBC announced that it would sell the majority of the Zellers leases for $1.825 billion to the US-based retailer [[Target Corporation|Target]] and shutter all of their remaining locations by early 2013.<ref>{{Cite news |last=Ho |first=Solarina |last2=Wohl |first2=Jessica |date=2011-01-13 |title=Target takes 1st step outside U.S. with Canada deal |url=https://www.reuters.com/article/idUSN1326316220110113/ |access-date=2025-03-28 |work=[[Reuters]]}}</ref> Target used the acquisition of this real estate as a means to enable its entry in the Canadian market. HBC used some of the proceeds to pay down debt and to invest in growing its Hudson's Bay and Lord & Taylor banners. In January 2013, it was confirmed that three Zellers locations, re-purposed as discount department stores for The Bay and Home Outfitters, would remain open.<ref name="three Zellers stores">{{Cite news |last=Weisblott |first=Marc |title=Zellers will stick around Canada's three biggest cities after Target arrives |work=O.Canada.com |publisher=Postmedia Network |url=http://o.canada.com/2013/01/08/zellers-will-stick-around-canadas-three-biggest-cities-after-target-arrives/ |access-date=14 January 2013 |archive-date=14 January 2013 |archive-url=https://web.archive.org/web/20130114212716/http://o.canada.com/2013/01/08/zellers-will-stick-around-canadas-three-biggest-cities-after-target-arrives/ |url-status=dead}}</ref><ref>{{Cite press release |title=Target Finalizes Real Estate Transaction with Selection of 84 Additional Zellers Leases |date=23 September 2011 |publisher=Target Corporation |location=Minneapolis, Minnesota |url=http://pressroom.target.com/pr/news/target-finalizes-real-estate-transaction-215949.aspx |access-date=26 September 2011 |archive-date=27 September 2011 |archive-url=https://web.archive.org/web/20110927021723/http://pressroom.target.com/pr/news/target-finalizes-real-estate-transaction-215949.aspx |url-status=dead }}</ref><ref>{{Cite news |last=Flavelle |first=Dana |date=26 July 2012 |title=Zellers to close last 64 stores as Target moves into Canada |url=https://www.thestar.com/business/zellers-to-close-last-64-stores-as-target-moves-into-canada/article_689f29fb-49fc-5bbf-9994-c8c1be1fdafc.html |url-access=subscription |access-date=2025-03-28 |work=[[Toronto Star]]}}</ref><ref name="gandm-ipo" /> The Target Canada chain folded in 2015; the leases were subsequently returned to landlords or re-sold to other retailers.<ref>{{Cite news |date=2015-05-01 |title=Target returns, auctions off leases on most Canadian properties |url=http://www.cbc.ca/news/business/target-returns-auctions-off-leases-on-most-canadian-properties-1.3057433 |access-date=8 May 2015 |work=[[CBC News]] |publisher=}}</ref> Zellers was still owned by HBC as two remaining stores following the sale of its lease portfolio to [[Target Canada]] in 2011.<ref name="three Zellers stores" /><ref>{{Cite web |title=HBC store locator |url=http://www.hbc.com/storelocator/?langid=en&src=hbc |url-status=dead |archive-url=https://web.archive.org/web/20140311201749/http://www.hbc.com/storelocator/?langid=en&src=hbc |archive-date=11 March 2014 |access-date=2 March 2014}}</ref><ref>{{Cite web |title=Zellers store to stay open at Semiahmoo Shopping Centre |url=http://www.thenownewspaper.com/business/Zellers+store+stay+open+Semiahmoo+Shopping+Centre/7800250/story.html |url-status=dead |archive-url=https://web.archive.org/web/20130130013814/http://www.thenownewspaper.com/business/Zellers+store+stay+open+Semiahmoo+Shopping+Centre/7800250/story.html#ixzz2Hz7zrhhS |archive-date=30 January 2013 |access-date=14 January 2013 |df=dmy-all}}</ref> Those stores closed in January 2020.

In August 2022, the Hudson's Bay Company announced it would be reviving the Zellers brand through online shopping and within Hudson's Bay physical locations in 2023.<ref>{{Cite news |last=Benechetrit |first=Jenna |date=August 17, 2022 |title=Hudson's Bay to resurrect discount retail chain Zellers |url=https://www.cbc.ca/news/business/hbc-resurrects-zellers-1.6553473 |access-date=August 17, 2022 |work=[[CBC News]] |pages=}}</ref><ref>{{cite web |url=https://globalnews.ca/news/5866980/hudsons-bay-to-shutter-last-2-zellers-stores-in-toronto-ottawa/ |title=Hudson's Bay to shutter last 2 Zellers stores in Toronto, Ottawa |work=Global News |last=Sagan |first=Aleksandra |date=6 September 2019 |access-date=22 March 2022}}</ref> It operates in a [[store-within-a-store]] format across Canada.

=== Lord & Taylor ===
[[File:Lord & Taylor Manhasset, NY 37 (51206727602).jpg|thumb|[[Lord & Taylor]] in [[Manhasset, New York]]]]

On 24 January 2012, the ''[[Financial Post]]'' reported that Richard Baker (owner of NDRC and governor of Hudson's Bay Company) had dissolved [[Hudson's Bay Trading Company]] and that the HBC would now also operate the [[Lord & Taylor]] chain. At the time, the company was run by president [[Bonnie Brooks]].<ref>{{Cite news |title=America's Lord & Taylor gets some family help |work=The Globe and Mail |url=https://www.theglobeandmail.com/globe-investor/americas-lord-taylor-gets-some-family-help/article2311540/}}{{dead link|date=October 2015}}</ref> Baker remained governor and CEO of the business, and Donald Watros stayed on as chief operating officer.<ref name="Hudson's Bay Trading Company dissolved">{{Cite news |last=Shaw |first=Hollie |date=23 January 2012 |title=Hudson's Bay Co. completes purchase of Lord & Taylor: report |work=Financial Post |url=http://business.financialpost.com/2012/01/23/hudsons-bay-co-completes-purchase-of-lord-taylor-report/ |url-access=subscription}}</ref>

In 2018, HBC in a joint venture sold the building that housed its flagship [[Lord & Taylor]] store on Fifth Avenue in Manhattan to [[WeWork]] Property Advisors for $850 million. WeWork was set to occupy the uppermost floors of the building, with the rest of the building remaining a flagship space for Lord & Taylor.<ref>{{Cite press release |title=HBC and WeWork Enter into Global, Multi-Faceted Strategic Relationship |date=2017-10-24 |publisher=Hudson's Bay Company |location=Toronto & New York |url=http://www.businesswire.com/news/home/20171024005878/en/HBC-WeWork-Enter-Global-Multi-Faceted-Strategic-Relationship |via=[[Business Wire]] |access-date=2025-03-28 |url-status=deviated |archive-url=https://web.archive.org/web/20180129005915/http://www.businesswire.com/news/home/20171024005878/en/HBC-WeWork-Enter-Global-Multi-Faceted-Strategic-Relationship |archive-date=2018-01-29}}</ref><ref name=":1">{{Cite news |last=Hodges |first=David |date=2017-11-01 |title=HBC should accept unsolicited $4.5B offer for German real estate: investor |url=https://www.ctvnews.ca/business/article/hbc-should-accept-unsolicited-45b-offer-for-german-real-estate-investor/ |access-date=2025-03-28 |work=[[CTV News]]}}</ref> The deal also included the use of floors of certain HBC-owned department stores in New York, Toronto, Vancouver and Germany as WeWork's shared office workspaces.<ref name="financialpost.com" /><ref>{{Cite press release |title=Hudson's Bay Company Responds to Land & Buildings Press Release |date=2 November 2017 |publisher=[[Business Wire]] |url=http://www.businesswire.com/news/home/20171102005748/en/Hudson%E2%80%99s-Bay-Company-Responds-Land-Buildings-Press |access-date=10 January 2018 |url-status=deviated |archive-url=https://web.archive.org/web/20171108022729/http://www.businesswire.com/news/home/20171102005748/en/Hudson%E2%80%99s-Bay-Company-Responds-Land-Buildings-Press |archive-date=2017-11-08}}</ref>

In August 2019, HBC announced that it would sell their Lord & Taylor business to [[Le Tote]] Inc., which was to pay {{CAD|99.5 million}} in cash when the deal closes (probably before year end 2019) and an additional {{CAD|33.2 million}} two years later. HBC was to get a 25 per cent equity stake in Le Tote.<ref>{{Cite news |last=DiNapoli |first=Jessica |last2=Dowsett |first2=Sonya |date=2019-08-28 |title=Hudson's Bay to sell Lord + Taylor for $100 million |url=https://www.reuters.com/article/business/hudsons-bay-to-sell-lord-taylor-for-100-million-idUSKCN1VI1LV/ |archive-url=https://web.archive.org/web/20190831133144/https://ca.reuters.com/article/businessNews/idCAKCN1VI1LV-OCABS |archive-date=2019-08-31 |access-date=2025-03-27 |work=[[Reuters]]}}</ref> The buyer would retain the stores' inventory, with an estimated value of {{CAD|284.2 million}}. The deal, expected to close before year end, required HBC to pay the stores' rent for at least three years, leading one news report to describe it as "Not a clean exit". The liability to HBC for the rents was estimated at {{CAD|77 million}} cash per year.<ref>{{cite press release |title=HBC and Le Tote Enter Into Agreement for Acquisition of Lord + Taylor |date=28 August 2019 |publisher=[[Business Wire]] |url=https://www.businesswire.com/news/home/20190828005408/en/HBC-Le-Tote-Enter-Agreement-Acquisition-Lord |via= |access-date=22 March 2022}}</ref><ref>{{cite news |url=https://business.financialpost.com/news/retail-marketing/not-a-clean-exit-hudsons-bay-sells-lord-taylor-for-133-million |title=Not a 'clean exit': Hudson's Bay sells historic Lord & Taylor for $133 million |work=Financial Post |last=Edmiston |first=Jake |date=28 August 2019 |access-date=22 March 2022}}</ref>

=== Saks, Inc. ===
[[File:Saks Fifth Avenue flagship Mar 2021 60.jpg|thumb|[[Saks Fifth Avenue flagship store]]. [[Saks Fifth Avenue]] is a chain owned by HBC since 2013.]]
On 29 July 2013, Hudson's Bay Company announced that it would buy [[Saks, Inc.]], operator of the American [[Saks Fifth Avenue]] brand, for [[United States dollar|US$]]2.9&nbsp;billion, or $16 per share.<ref>{{Cite news |date=29 July 2013 |title=Saks snapped up by Canada's Hudson's Bay in $2.9bn deal |work=[[BBC News]] |url=https://www.bbc.co.uk/news/business-23491574 |access-date=29 July 2013}}</ref><ref>{{Cite news |last=Evans |first=Pete |date=29 July 2013 |title=Hudson's Bay to bring Saks to Canada in $2.9B takeover |publisher=[[CBC News]] |url=https://www.cbc.ca/news/business/hudson-s-bay-to-bring-saks-to-canada-in-2-9b-takeover-1.1408868 |access-date=6 October 2015}}</ref> The merger was completed on 3 November 2013.<ref>{{Cite news |date=4 November 2013 |title=Hudson's Bay completes acquisition of Saks |work=Yahoo Finance |agency=Associated Press |url=https://finance.yahoo.com/news/hudsons-bay-completes-acquisition-saks-193823259.html |access-date=5 October 2015}}</ref> The company also stated that as a result of the purchase, Canadian consumers would see Saks stores arriving in their country soon.<ref>{{Cite news |date=29 July 2013 |title=Hudson's Bay to buy Saks, bring stores to Canada |work=Financial Post |agency=Reuters |url=http://business.financialpost.com/2013/07/29/hudsons-bay-to-buy-saks-bring-stores-to-canada/ |url-access=subscription |access-date=7 October 2015}}</ref> After the purchase was finalized, HBC had a net loss of $124.2&nbsp;million in the 2013 3Q due to the cost of the purchase and promotions.<ref>{{Cite news |last=Moin |first=David |date=11 December 2013 |title=HBC's Net loss Grows to $124.2M |url=http://www.wwd.com/business-news/financial/hbcs-net-loss-grows-to-1242m-7307704?src=n/newsAlert/20131211-2 |url-access=subscription |access-date=11 December 2013 |work=[[Women's Wear Daily]] |publisher=Fairchild Publishing}}</ref><ref>{{cite web |last=Shoulberg |first=Warren |date=22 February 2019 |title=Hudson's Bay Company Teardown Continues With Closing of Home Outfitters, 20 Saks Off Fifth Stores |url=https://www.forbes.com/sites/warrenshoulberg/2019/02/22/hbc-closing-home-outfitters-20-saks-off-fifth-stores-as-its-teardown-continues/#45f1a68366c0 |access-date=22 March 2022 |work=[[Forbes]]}}</ref>

[[Saks Global]] purchased the American [[Neiman Marcus Group]] (NMG).<ref>{{cite web |last1=Latham |first1=Tori |date=26 December 2024 |title=Saks Officially Acquires Neiman Marcus for $2.7 Billion |url=https://robbreport.com/lifestyle/news/saks-acquires-neiman-marcus-1236136393/ |website=Robb Report}}</ref><ref>{{cite web |last1=Singh |first1=Prachi |date=24 December 2024 |title=Saks Global completes the acquisition of Neiman Marcus |url=https://fashionunited.com/news/business/saks-global-completes-the-acquisition-of-neiman-marcus/2024122363662 |url-access=registration |website=Fashion United |publisher=}}</ref><ref>{{Cite web |last=Moin |first=David |date=2024-12-11 |title=Saks Owner HBC Secures $2 Billion Bond to Buy Neiman's |url=https://wwd.com/business-news/retail/saks-owner-hbc-secures-2-billion-bond-to-close-deal-to-buy-neiman-marcus-group-1236760588/ |access-date=2024-12-24 |website=[[Women's Wear Daily]] |language=en-US}}</ref> The acquisition was finalized in December 2024 and the purchase cost $2.7 billion.<ref name="SN">{{Cite web |last=Schulz |first=Madeleine |date=2024-12-24 |title=The Saks-Neiman merger is on |url=https://www.voguebusiness.com/story/companies/the-saks-neiman-merger-is-on |access-date=2024-12-25 |website=[[Vogue Business]] |language=en-US}}</ref> The acquisition brought together Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and Saks Off 5th,<ref name="HBC Heritage-3">{{Cite web |last=Pequeño IV |first=Antonio |date=2024-12-23 |title=Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal |url=https://www.forbes.com/sites/antoniopequenoiv/2024/12/23/saks-global-inks-27-billion-acquisition-of-neiman-marcus-in-amazon-backed-deal/ |access-date=2024-12-24 |website=[[Forbes]] |language=en}}</ref> The purchase was supported with financing from [[Amazon (company)|Amazon]] (who will work with the group to “to innovate on behalf of customers and brand partners”),<ref name="HBC Heritage-3" /> [[Authentic Brands Group]], [[G-III Apparel Group]] and [[Salesforce]].<ref name="H-2">{{Cite web |last=Moin |first=David |date=2024-12-23 |title=Saks Finalizes $2.7 Billion Deal to Buy the Neiman Marcus Group |url=https://wwd.com/business-news/retail/saks-2-7-billion-deal-neiman-marcus-group-finalized-1236777177/ |access-date=2024-12-24 |website=[[Women's Wear Daily|WWD]] |language=en-US}}</ref> There is also the possibility of store closures across Saks Fifth Avenue and Neiman Marcus.<ref name="H-2" /> In an interview with Vogue Business, Metrick (CEO of Saks Global Operating Group) said that this is only the beginning of the groups ambitions and that they are now thinking of what the entity might look like internationally.<ref name="SN" />

=== Home Outfitters ===
[[File:HomeOutfittersFirstMarkhamPlace.jpg|thumb|Home Outfitters at First Markham Place (now closed) in Markham, Ontario]]

[[Home Outfitters]] originally launched in 1998 as Bed, Bath & More, before being revamped and relaunched under the new name in 1999.<ref>{{cite web|url=http://www.hbcheritage.ca/history/ventures/home-outfitters|title=HBC Heritage — Home Outfitters|work=www.hbcheritage.ca|accessdate=23 May 2018}}</ref> The chain peaked at 69 locations in October 2014.<ref>{{cite web|last1=Bourré|first1=Tiffany|title=Bonjour, Quebec! Hudson's Bay Opens First Outlet Store in Province|url=https://www3.hbc.com/press-release-container/bonjour-quebec-hudsons-bay-opens-first-outlet-store-in-province/|website=HBC|accessdate=November 2, 2017|date=October 29, 2014|archive-date=November 7, 2017|archive-url=https://web.archive.org/web/20171107023723/https://www3.hbc.com/press-release-container/bonjour-quebec-hudsons-bay-opens-first-outlet-store-in-province/|url-status=dead}}</ref> It sold [[bedding]], [[towel]]s, [[houseware]]s, and other home accessories.<ref>{{cite web |last=Tencer |first=Daniel |date=23 July 2014 |title=Home Outfitters Closing In Mississauga, Abbotsford, HBC Announces |url=https://www.huffingtonpost.ca/2014/07/23/home-outfitters-store-closings_n_5613595.html |accessdate=23 May 2018 |website=[[HuffPost|Huffington Post]] |publisher=}}</ref> 

In July 2014, HBC announced that it would begin integrating Home Outfitters into its [[Hudson's Bay (department store)|Hudson's Bay]] retail division (including increased availability of its product line through Hudson's Bay locations and its website), along with the closure of 2 stores.<ref>{{cite web |date=23 July 2014 |title=HBC closes two Home Outfitters stores, one at Square One Mississauga |url=https://www.thestar.com/business/2014/07/23/hbc_closes_two_home_outfitters_stores_one_at_square_one_mississauga.html |url-access=subscription |accessdate=23 May 2018 |work=[[Toronto Star]] |publisher=}}</ref> In 2016, HBC rebranded three Home Outfitters locations in Winnipeg under the banner '''Hudson's Bay Home''' as a pilot.<ref>{{Cite news |date=2016-04-01 |title=Hudson's Bay opens 3 'Home' concept stores in Winnipeg |url=http://www.cbc.ca/news/canada/manitoba/hudsons-bay-home-stores-winnipeg-1.3517102 |access-date=2018-06-25 |work=[[CBC News]] |language=en-US}}</ref> The stores closed a few years later, along with Home Outfitters.

In February 2019, HBC announced all 37 locations of Home Outfitters would be phased out.<ref>{{Cite news|url=https://dailyhive.com/vancouver/hbc-announces-closure-home-outfitters-stores-canada-2019|title=HBC announces closure of all Home Outfitters stores in Canada|date=21 February 2019|work=[[Daily Hive]]|access-date=21 February 2019}}</ref>

=== Galeria Kaufhof/Galeria Inno ===
[[File:Galeria Kaufhof Köln (4022-24).jpg|thumb|A [[Galeria Kaufhof]] in [[Köln]]. The chain was owned by HBC from 2015 to 2019.]]
HBC had acquired the German department store chain Galeria Kaufhof and its Belgian subsidiary, [[Galeria Inno]], from [[Metro Group]] in September 2015 for {{USD|3.2 billion}}.<ref>{{Cite press release |title=Hudson's Bay Company to Acquire Galeria Holding, Parent of Kaufhof, #1 Department Store in Germany |publisher=Hudson's Bay Company |url=http://investor.hbc.com/releasedetail.cfm?releaseid=917844 |access-date=5 October 2015 |archive-url=https://web.archive.org/web/20150927153037/http://investor.hbc.com/releasedetail.cfm?releaseid=917844 |archive-date=27 September 2015 |url-status=dead}}</ref><ref>{{Cite web |date=30 September 2015 |title=Hudson's Bay Company Completes Acquisition of GALERIA Holding |url=http://investor.hbc.com/releasedetail.cfm?ReleaseID=934427 |url-status=dead |archive-url=https://web.archive.org/web/20160625171818/http://investor.hbc.com/releasedetail.cfm?ReleaseID=934427 |archive-date=25 June 2016 |access-date=4 June 2016 |publisher=Hudson's Bay Company}}</ref>

On 1 November 2017, HBC received an unsolicited offer from Austrian firm [[Signa Holding]] for Kaufhof and other real estate.<ref name=":1" /> An unnamed source told [[CNBC]] that the value of the offer was approximately {{Euro|3 billion}}.<ref>{{Cite web |last=Hirsch |first=Lauren |date=1 November 2017 |title=Saks Fifth Avenue owner continues to face pressure, amid a bid for its European department store |url=https://www.cnbc.com/2017/11/01/saks-fifth-avenue-owner-under-pressure-amid-galeria-kaufhof-bid-talk.html |access-date=10 January 2018 |website=[[CNBC]] |publisher=}}</ref> This information on the offer was also reiterated in a press release by activist shareholder Land & Buildings Investment Management, which urged HBC to accept the offer; the company replied that the offer was incomplete and did not provide indication of financing for the deal.<ref>{{Cite news |last=Kopun |first=Francine |date=1 November 2017 |title=Hudson's Bay urged to accept bid for German assets |url=https://www.thestar.com/business/2017/11/01/competitor-offers-to-buy-hudsons-bays-german-assets.html |url-access=subscription |access-date=10 January 2018 |newspaper=[[Toronto Star]]}}</ref> In late 2018, Galeria Kaufhof and [[Karstadt]] merged as part of a spin off.<ref>{{Cite news |last=Hummel |first=Tassilo |last2=Copley |first2=Caroline |last3=Saminather |first3=Nicola |date=2018-09-11 |title=Hudson's Bay, Signa form European retail, real estate joint venture |url=https://www.reuters.com/article/us-hudson-s-bay-m-a-signa-merger/hudsons-bay-signa-form-european-retail-real-estate-joint-venture-idUSKCN1LR0P3/ |access-date=2025-03-28 |work=[[Reuters]]}}</ref>

HBC announced its intent to sell the last 49.99 per cent of Galeria Kaufhof and Galeria Inno shares it held to Austrian firm [[Signa Holding]] in June 2019. The sale of the real estate in Germany had gained {{USD|1.5 billion}} ({{Euro|1 billion}}) for HBC.<ref>[https://www.reuters.com/article/us-hudson-s-bay-divestiture/hudsons-bay-to-sell-lord-taylor-for-100-million-idUSKCN1VI1LV Reuters] Hudson's Bay to sell Lord + Taylor for $100&nbsp;million</ref> At that time, HBC still had a retail operation in the Netherlands, using the Vroom & Dreesmann locations it had purchased in 2017. On 31 August 2019, the company announced that all 15 of those stores would be sold by year end.<ref>{{cite web |url=https://www.forbes.com/sites/walterloeb/2019/06/10/hudsons-bay-sells-european-stake-plans-to-go-private/#36664e3e1dc0 |title=Hudson's Bay Sells European Stake, Might Go Private |last=Loeb |first=Walter |work=Forbes |date=10 June 2019 |access-date=22 March 2022}}</ref><ref>{{cite web |url=https://www.bloomberg.com/news/articles/2019-08-31/hudson-s-bay-to-close-dutch-unit-dismiss-1-400-workers-fd-says |title=Hudson's Bay to Close Dutch Unit and Dismiss 1,400 Workers: Report |work=Bloomberg |last=Munsterman |first=Ruben |date=31 August 2019 |access-date=22 March 2022 |url-access=subscription}}</ref>

=== Neiman Marcus Group ===
On July 4, 2024, Hudson's Bay Company announced it would acquire [[Neiman Marcus Group]] for $2.65 billion, concluding years of negotiations.<ref>{{Cite news |last=Peiser |first=Jaclyn |date=2024-07-04 |title=Saks parent company will acquire Neiman Marcus in $2.65 billion deal |url=https://www.washingtonpost.com/business/2024/07/04/saks-neiman-marcus-merger/ |url-access=subscription |access-date=2024-07-05 |newspaper=[[Washington Post]] |language=en-US |issn=0190-8286}}</ref>

=== Liquidation and closure of department stores ===
On March 7, 2025, [[Hudson's Bay (department store)|Hudson's Bay]] warned that it would be preparing to file for creditor protection, months after departing from the newly formed [[Saks Global]]. The company stated it failed to secure financing and that it had constant delays in paying suppliers.<ref name="BloombergNews1">{{Cite web |last1=Basu |first1=Reshmi |last2=Sambo |first2=Paula |date=March 7, 2025 |title=Canadian Retailer Hudson's Bay Prepares to File for Bankruptcy |url=https://www.bloomberg.com/news/articles/2025-03-07/canadian-retailer-hudson-s-bay-prepares-to-file-for-bankruptcy |url-access=subscription |access-date=March 7, 2025 |website=[[Bloomberg News]] |language=en}}</ref> That same day, Hudson's Bay filed for creditor protection in Canada under the ''[[Companies' Creditors Arrangement Act]]''.<ref>{{Cite web |last1=Caruso-Moro |first1=Luca |last2=Raaj |first2=Aarjavee |last3=Chaya |first3=Lynn |date=2025-03-08 |title=Hudson's Bay files for creditor protection |url=https://www.ctvnews.ca/business/article/hudsons-bay-files-for-creditor-protection/ |access-date=2025-03-08 |website=[[CTV News]] |language=en}}</ref><ref>{{Cite press release |title=Hudson’s Bay Company ULC, the Operator of Hudson’s Bay Stores and TheBay.com, Initiates Restructuring Proceedings Under CCAA in Response to Canadian Retail Industry Challenges |date=2025-03-07 |publisher=[[Business Wire]] |location=Toronto |url=https://www.businesswire.com/news/home/20250307260606/en/Hudsons-Bay-Company-ULC-the-Operator-of-Hudsons-Bay-Stores-and-TheBay.com-Initiates-Restructuring-Proceedings-Under-CCAA-in-Response-to-Canadian-Retail-Industry-Challenges |access-date=2025-03-28|archive-url=https://web.archive.org/web/20250322094647/https://www.businesswire.com/news/home/20250307260606/en/Hudsons-Bay-Company-ULC-the-Operator-of-Hudsons-Bay-Stores-and-TheBay.com-Initiates-Restructuring-Proceedings-Under-CCAA-in-Response-to-Canadian-Retail-Industry-Challenges|archive-date=2025-03-22}}</ref> Jennifer Bewley, CFO of the company, stated that Hudson's Bay was days away from being unable to meet payroll obligations if it failed to receive funding, which could lead to lease defaults and possible store closures.<ref name="CBC1">{{citation|title=Hudson's Bay files for creditor protection, intends to restructure business|url=https://www.cbc.ca/news/business/hudsons-bay-creditor-protection-1.7477926|date=2025-03-07|access-date=2025-05-09|work=[[CBC News]] website|agency=The Canadian Press|archive-url=https://web.archive.org/web/20250312191837/https://www.cbc.ca/news/business/hudsons-bay-creditor-protection-1.7477926|archive-date=2025-03-12|quote=Bewley said the company would be days away from failing to meet its payroll obligations, if it doesn't receive more funding. It has 9,364 employees, the court filing says.}}</ref> The Bay initially appeared intent on keeping many of its retail locations open.<ref name="CBC1" /> Also, as part of the initial plan, [[Saks Fifth Avenue]] and [[Saks Off 5th]] locations in Canada would remain operational during the proceedings, while Saks Global was not a part of the bankruptcy filing.<ref name="CBC1" />

Later in March 2025, HBC announced that it would liquidate and shutter 74 Hudson's Bay and 2 Saks Fifth Avenue stores, and all 13 outlets of Saks Off 5th in Canada, leaving over 9,000 jobs in peril and only 6 locations in Ontario and Quebec remaining.<ref name="Insider-2025-03-21">{{Cite web |last=Patterson |first=Craig |date=21 March 2025 |title=Hudson’s Bay to Liquidate Most Stores, Six Stay Open |url=https://retail-insider.com/retail-insider/2025/03/hudsons-bay-to-liquidate-most-stores-six-may-survive/ |access-date=2025-03-28 |website=Retail Insider}}</ref> Liquidation sales began on March 24, with locations to be permanently shuttered by June.<ref>{{Cite web|url= https://www.businesswire.com/news/home/20250314532147/en/Hudsons-Bay-to-Undergo-Full-Liquidation-Unless-an-Alternative-Solution-Emerges|title= Hudson’s Bay to Undergo Full Liquidation Unless an Alternative Solution Emerges|date=14 March 2025|access-date=17 March 2025|website=Business Wire|language=en}}</ref><ref>{{cite news |last1=Harris |first1=Sophia |title=Hudson's Bay's demise marks the death of the traditional department store in Canada |url=https://www.cbc.ca/news/business/hudon-s-bay-department-store-1.7486167 |agency=CBC News |date=March 18, 2025}}</ref> On April 23, due to court rulings deeming it "low probability" to find a buyer to keep the remaining 6 stores afloat, HBC announced the liquidation, effective April 25, of all Hudson's Bay stores including the ones initially spared.<ref>{{cite news|last=Deschamps|first=Tara|date=April 23, 2025|title= Hudson’s Bay will liquidate last 6 remaining stores, court filing says|url=https://globalnews.ca/news/11146195/hudsons-bay-liquidating-remaining-6-stores/|work=[[Global News]]|publisher=Global News|access-date=April 24, 2025}}</ref><ref>{{cite news|last=Deschamps|first=Tara|date=April 25, 2025|title=Hudson’s Bay liquidation begins at final stores with markdowns of up to 70 per cent|url=https://globalnews.ca/news/11149066/hudsons-bay-liquidation-final-stores-ontario-quebec/|work=[[Global News]]|publisher=Global News|access-date=April 25, 2025}}</ref>

By May 2025, Hudson's Bay Company was soliciting bids for its leases, intellectual property and real estate, as part of the court-supervised liquidation process.<ref name="TorontoStar1">{{citation|author1-last=Ren|author1-first=Estella|title=Hudson’s Bay expects liquidation sales to continue through May, confirms no insider bid has been received|website=[[Toronto Star]] website|url=https://www.thestar.com/business/hudsons-bay-expects-liquidation-sales-to-continue-through-may-confirms-no-insider-bid-has-been/article_25eee5dc-3815-4ba2-835b-9a155c6431f9.html|date=2025-05-07|access-date=2025-05-09|archive-url=https://web.archive.org/web/20250509204924/https://www.thestar.com/business/hudsons-bay-expects-liquidation-sales-to-continue-through-may-confirms-no-insider-bid-has-been/article_25eee5dc-3815-4ba2-835b-9a155c6431f9.html|archive-date=2025-05-09|quote=Earlier this week, the Ontario Superior Court of Justice overseeing the liquidation of Hudson’s Bay appointed a law firm to represent the company’s active and retired non-unionized employees.}}</ref><ref name="TorontoStar2">{{citation|author1-last=Ren|author1-first=Estella|title=Hudson’s Bay receives 17 bids for some of its leases, IP and real estate|website=Toronto Star website|url=https://www.thestar.com/business/hudsons-bay-receives-17-bids-for-some-of-its-leases-ip-and-real-estate/article_993d3daf-bb60-4f67-95fb-29de737cea6c.html|date=2025-05-09|access-date=2025-05-09|archive-url=https://web.archive.org/web/20250509203015/https://www.thestar.com/business/hudsons-bay-receives-17-bids-for-some-of-its-leases-ip-and-real-estate/article_993d3daf-bb60-4f67-95fb-29de737cea6c.html|archive-date=2025-05-09|quote=Hudson’s Bay will return to court next Tuesday to seek court permission to extend creditor protection until July 31 to complete the liquidation and sale of its assets.}}</ref> On May 9, in a court filing, HBC explained that several bids for property leases had been received, including 12 qualified bids for 39 leases (with no qualified bids for another 62 leases).<ref name="TorontoStar2" /> The company also received 17 bids for other assets, and was determining which bids would be deemed qualified, and whether to hold a private auction among those qualified bidders around May 16.<ref name="TorontoStar2" /> On May 15, ''[[The Globe and Mail]]'' reported that, according to its confidential sources, [[Canadian Tire]] would be acquiring some of HBC's intellectual property, including the stripes pattern, on undisclosed terms.<ref name="GlobeAndMail1">{{citation|author1-last=Krashinsky Robertson|author1-first=Susan|title=Canadian Tire to buy Hudson’s Bay stripe design, other intellectual property|website=[[The Globe and Mail]] website|url=https://www.theglobeandmail.com/business/article-canadian-tire-to-buy-hudsons-bay-stripe-design-other-intellectual/|date=2025-05-09|access-date=2025-05-15|archive-url=https://web.archive.org/web/20250515212244/https://www.theglobeandmail.com/business/article-canadian-tire-to-buy-hudsons-bay-stripe-design-other-intellectual/|archive-date=2025-05-15|quote=Canadian Tire is one of the successful bidders chosen in a process to sell off pieces of the Hudson’s Bay business, according to two sources familiar with the matter. The Globe and Mail is not naming the sources because they were speaking about a confidential process.}}</ref><ref>https://toronto.citynews.ca/2025/05/15/hudsons-bay-to-sell-brands-to-canadian-tire-for-30-million/</ref> Canadian Tire will pay $30 million for the deal. The HBC will also auction off 4,400 pieces of art and artifacts including the 1670 royal charter. The auction will be run by Heffel Gallery.