History sold out

The Canadian Citizenship test preperation requires one to be aware that The Hudson Bay Company is the oldest chartered company in the world and automatically Canada’s oldest company. Being an immigrant I have a tendency to automatically think of the company when bringing to mind all things Canadian. One tends to picture the regal buildings along Yonge St., the eye-catching displays (Of which the display for the current Harry Potter book is one of my favourites) and so on. So the whole process of a possible auctioning off of the company was quite an anxiety ridden time. Unfortunately though, it came through yesterday. Hudson Bay is now officially owned by an American. He seems to have some pretty good ideas for revival, but there is still the off chance it could be dissolved completely. Quite depressing.

3 Comments so far

  1. Stephen Jacobs (unregistered) on January 27th, 2006 @ 2:15 pm

    Or the branding horribly changed etc.

    I wonder if the company did or could have put in a clause for the sale saying that some things had to be retained…?

  2. Saira (unregistered) on January 27th, 2006 @ 2:23 pm

    Apparently the buyer “pledges” to revive the company. hmm.

  3. swoononeone (unregistered) on January 28th, 2006 @ 9:18 am

    HBC is no more. Feeling sorry for the 70,000 or so employees. They are swimming with the sharks. Zucker is tied to TARGET. It’s more likely a deal to secure real estate assets to open more TARGETS rather than keep Zellers and HBC going.

    In related news the Royal York and the Fairmont Hotel chain may be swalloed up by another robber baron, ICHAN. More to M&A to come under our current regime I’m afraid.

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