### Iconic 355-Year-Old Hudson's Bay Company Shuts Down, Marking End of an Era in Canadian Retail

In a moment that signifies the end of an era, the Hudson's Bay Company is closing its doors after 355 years of operation. As the final days unfolded in its downtown Ottawa location, bargain hunters grabbed steep discounts on remaining inventory, with some items marked down by as much as 90%.

Hudson's Bay Company, commonly referred to as "the Bay," was more than just another retailer. Established in 1670, the company initially served as a fur trading enterprise, controlling nearly one-third of the territory that is now Canada—without the consent of Indigenous inhabitants. Over time, it evolved into North America's oldest corporation and became Canada's last traditional full-line department store chain.

Beye Escobar was both delighted and saddened as she exited the Ottawa store with two bikinis bought at a 70% discount. "I honestly don't know why it's closing," Escobar said. "I think it's very unfortunate because they had very good stuff."

The financial downfall of the company was largely due to its hefty debt. In March, after years of financial struggle exacerbated by a shifting retail landscape and the impact of the pandemic, Hudson's Bay declared bankruptcy, sealing its fate.

The company's journey took an interesting turn in 2008 when Richard A. Baker, a New York real estate mogul, purchased it. At first, Baker invigorated the brand by investing in both its physical and online presence, appointing Bonnie Brooks as president and chief executive. Brooks revitalized the brand by emphasizing its Canadian heritage, introducing merchandise adorned with the iconic green, red, yellow, and indigo stripes of the Bay's historic "point blankets."

Yet, despite these efforts, the rise of e-commerce and shifting consumer habits took their toll. Customers lamented the loss of what they viewed as a uniquely Canadian institution. "It felt like a piece of Canada," Ottawa resident Bryan Higgins said. "It felt like going to Tim Hortons and getting a doughnut."

As the final days played out, shoppers grabbed everything from indoor-outdoor rugs to mannequins, taking full advantage of the liquidation sales. The scene was a stark contrast to the Bay's glory days, with empty shelves and non-functional escalators symbolizing its decline.

The company's intellectual properties have been acquired by Canadian Tire, which has no plans to revive the Bay's department stores. Meanwhile, a small commercial real estate firm in British Columbia has secured the rights to 28 store leases, intending to start a new department store chain, though such plans await approval from landlords and a judge.

Despite the nostalgia the Bay evokes, it's impossible to overlook the darker aspects of its history. Geneviève Cloutier, who left the store with her daughter, encapsulated the mixed feelings many have. "I had a love-hate relationship with the store," she said. "I'd see a Bay blanket, and I'd think: Oh, it's such Canadiana. But it comes with the shame of all of the colonial violence—the dark side of the Bay."

As the final shoppers exited the store and employees prepared for their last cleanup, Hudson's Bay Company leaves behind a complicated legacy deeply woven into the fabric of Canadian history.