Canada's iconic Hudson Bay brand to survive after sale to competitor
Summary
Canada's Hudson Bay Company, the country's oldest corporation, is selling its brand to Canadian Tire. This decision comes after Hudson Bay closed its stores due to difficulties such as changes in shopping habits after the pandemic and American tariffs.Key Facts
- Hudson Bay Company, founded in 1670, is Canada's oldest corporation.
- It will sell its brand to Canadian Tire for 30 million Canadian dollars.
- The company recently applied for creditor protection.
- Hudson Bay liquidated its stores because of changing retail trends and US tariffs.
- Hudson Bay has been known for its striped wool blankets, among other products.
- Canadian Tire operates over 1,700 stores across Canada.
- The brand sale includes in-house brands like Gluckstein and Distinctly Home.
- The sale protects the brand name, even though the stores will close.
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