Case Study

Financial Advisor to North America’s Oldest Company

We served as HBC's financial advisor, overseeing all aspects of the company's complex CCAA proceedings in Canada.

Company

Hudson's Bay Company

Location

Canada

Industry

Consumer / Retail

Hudson's Bay Company Case Study: Financial Advisor to HBC, overseeing all aspects of the company's complex CCAA proceedings in Canada.

Financial Advisor Hudson's Bay Company

The Situation

HBC was the oldest company in North America and Canada's most prominent department store, operating 80 full-line Hudson's Bay-branded stores, three Saks Fifth Avenue stores, and 13 Saks Off Fifth stores. Founded in 1670, when it was granted a right of sole trade and commerce over an expansive area of land that today comprises much of modern-day Canada, the company was a cultural and historical icon. Due to challenges facing the business, HBC commenced CCAA protection to allow for an orderly dissolution of its operations.

Strategy & Execution

We oversaw a multi-faceted strategy to realize the value of the company and its assets, including successfully leading and concluding a sale of the company's intellectual property to Canadian Tire, another Canadian retail icon; overseeing the liquidation and closure of its retail stores; seeking to obtain value from the company's vast retail real estate assets; and successfully conducting multiple sales of HBC's historically significant collection of art and artifacts, including its original charter granted in 1670 by King Charles II.

Outcome

The highly complex, multi-faceted realization process was largely concluded in 2026. The brands and iconic marks of HBC are once again being used and enjoyed by Canadians, with their legacy being continued by Canadian Tire Corporation and its various subsidiaries. The historically significant corporate charter was purchased jointly by the Weston and Thomson families of Canada and immediately donated for sharing by three of Canada's most important public museums for the benefit of the Canadian people.