The bankruptcy of the Hudson’s Bay Company (HBC) is often framed as the fall of “Canada’s oldest company.” Media narratives typically treat HBC as if it were a straightforward retail firm, albeit one with an exceptionally long history.
But HBC was always more than a hinterland mercantile fur trader in earlier centuries, just as it was more than a department store anchoring downtown shopping in the 20th century.
Like the beaver it nearly wiped out, HBC made Canada into its home by fundamentally transforming its environment, and no bankruptcy court will liquidate that legacy. Still, that legacy is more complex than many might assume.
- Heather Whiteside | Associate Professor of Political Science, University of Waterloo
It’s a shame the CEOs and people in charge had absolutely no vision for the company, especially after seeing the way Sears went.
They used to be like Amazon way back in the day where you would order by catalog by sending your order by mail. They totally could’ve become Canada’s answer to Amazon.
Instead, the higher ups are gonna close up shop and run with the money, leaving the employees with nothing, as usual.
HBC was once upon a time very much what Amazon wants to be - not just a store, but a way of delivering goods and services, and a central mercantile hub in each community.
And they knew what was coming; after all, they already closed down Zellers.
That’s also a shame. Now we only have Walmart.
Then attempted to sort of bring Zellers back.
HBC failed to adapt in the 70s to customers moving away from catalogue orders, it failed to adapt to malls in the 80s, and it failed to decommission its expensive white elephant department stores in the 90s.
By the time it was being passed around like an old car, it was already dead and gutted of its value.
I’m all for reminiscing on things lost, but this is just a funeral 45 years late. HBC died a long time ago.
That’s true.
