Canadian Tire is officially the new owner of Hudson’s Bay’s most iconic trademarks after an Ontario court approved the $30-million acquisition on Tuesday. The deal, considered the best possible outcome by Justice Peter Osborne, follows the dramatic collapse of Canada’s oldest retailer into liquidation and the permanent closure of all 96 Bay and Saks stores over the weekend.
With the purchase, Canadian Tire gains the rights to the Bay name, its recognizable coat of arms and signature stripes, as well as intellectual property such as the Distinctly Home brand, the Hudson North apparel line, “Bay Days,” and even Zellers’ classic slogan, “Lowest price is the law.” Also included is a licensing deal with U.S.-based Pendleton Woolen Mills.
The court proceedings also addressed other facets of Hudson’s Bay’s unwinding, including placing a joint real estate venture with RioCan into receivership and issuing a declaration enabling over 9,300 former employees to recover unpaid wages through the federal Wage Earner Protection Program. Judge Osborne described the store closures as “the end of an era,” while acknowledging the court’s role in supporting displaced staff during this transition.
Canadian Tire emerged as the successful bidder after Hudson’s Bay’s advisors solicited interest from more than 400 entities, eventually receiving 17 bids. Of those, 13 targeted intellectual property, with Canadian Tire’s offer deemed the most competitive. Details about why their bid prevailed over others were kept under seal due to the commercially sensitive nature of the rival offers.
Judge Osborne also clarified trademark rights related to the historic “Royal Charter” that established Hudson’s Bay in 1670. While the physical document is expected to go to auction separately, the use of “Hudson’s Bay Royal Charter” and “Royal Charter” in branding is limited to whisky, coffee, and brandy products under the agreement.
Canadian Tire, which already owns popular brands like Mark’s, SportChek, and Pro Hockey Life, is the first of several interested parties expected to acquire pieces of the Hudson’s Bay legacy. Additional transactions involving store leases and real estate assets are expected to be brought to court in the coming weeks.
Among them is a proposed deal for B.C.-based developer Ruby Liu to take over up to 28 former Bay locations to launch a new department store venture—pending landlord approvals. Two more asset sales are reportedly in the pipeline, signaling continued interest in repurposing the remnants of the once-dominant retail chain.