Canadian retailer The Hudson’s Bay Company has finalised an agreement to transfer its intellectual property rights to Canadian Tire for C$30m ($21m).
The transaction is a strategic move within a broader restructuring strategy under the Companies’ Creditors Arrangement Act (CCAA).
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The assets involved in this transaction encompass HBC Stripes and additional brand properties. The company’s collection of art and artifacts, set for a separate process approved by the court, are excluded.
Completion is contingent upon judicial endorsement and other standard conditions, and is expected in the summer of 2025.
The company’s ongoing processes for soliciting sales and investments and monetising leases will continue, with updates to be provided when relevant.
Hudson’s Bay president and CEO Liz Rodbell stated: “We are grateful that the HBC brand has found a home with another heritage retailer that encapsulates the uniquely authentic Canadian experience. I have no doubt they will be strong stewards of the more than 350-year HBC legacy as they move our iconic brands forward.”
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By GlobalDataThis development follows a court-sanctioned sale and investment solicitation process initiated by the Ontario Superior Court of Justice.
The company invited proposals from potential bidders interested in its properties and business operations.
After reviewing final bids, the company’s board of directors, with Reflect Advisors as financial advisor, key senior lenders and the court-appointed monitor, concluded that this transaction would serve the best interests of Hudson’s Bay and its stakeholders.
Hudson’s Bay Company had The company initiated the CCAA procedure in March 2025 due to the ongoing trade disputes with the US, economic turbulence and changes in consumer behaviour post-pandemic, announcing that it would begin liquidation sales at its remaining six Hudson’s Bay stores and one Saks Fifth Avenue outlet from 25 April.
