Canada's Hudson's Bay has survived 355 years. Now the store is in crisis
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https://www.cbc.ca/news/canada/manitoba/hbc-350-years-history-1.5569656
May 2 should have been an epic 350th birthday party for the Hudson's Bay Company — one of the oldest continuously operating companies in the world.
Instead, HBC's iconic department stores were shuttered because of the COVID-19 pandemic.
And even now, as the doors are reopening to customers, analysts are questioning the company's future as it navigates privatization and a complex and challenging post-pandemic retail environment.
HBC's immediate concern is "ensuring that financially it's able to maintain itself and not file for creditor protection," said Craig Patterson, editor in chief of the online magazine Retail Insider.
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HBC been experiencing a slow death for the last quarter century. Still our preferred department store quality and selection wise for certain items like kitchen ware, towels and some clothing items but that’s about it. All the same though I would hate to see it go. It’s an institution and part of the national identity.
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Department stores all over are face the same problems.
Sad if this old company does not make it.
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It’s only the retail company that is having the difficulty. Actually the old company (originally Hudson Bay Oil and Gas) is still more or less around but under a different name, BP Canada Energy Group based out of Calgary. It is focussed on drilling and production offshore Newfoundland Labrador and brokering the sale of heavy oil and bitumen out Alberta and Saskatchewan into the US
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Unfortunately, the company did not make it.
