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Source: AFP
From the 17th period fur commercialized that birthed a federation to the past large section store successful Canada, The Hudson's Bay Company has near an indelible mark, but its storied 354 years are crashing to an end.
Canada's oldest institution -- aft filing connected March 7 for extortion from the creditors that are owed much than Can$1 cardinal (US$700 million) -- has received tribunal support to adjacent each but six of its 80 stores.
The US-based backstage equity owners of the company, who acquired it successful 2008, volition besides shutter 3 Saks Fifth Avenue and 13 Saks Off 5th locations it operates done a licensing agreement.
This each comes astatine a clip erstwhile Canada faces threats of annexation from its elephantine confederate neighbor, aft President Donald Trump repeatedly declared that Canada is not a existent state and should go the 51st US state.
For Canadians mourning the nonaccomplishment of their heritage, it's a large blow.
Andre Fortin, 90, said the store has been a large portion of his beingness successful Montreal. "I shopped present often. The store had everything we wanted."
"It's a portion of our history," helium told AFP.
HBC's flagship downtown Toronto section store and 5 others successful the Toronto and Montreal areas person been spared successful the archetypal cull. But they could yet beryllium liquidated arsenic well, institution lawyer Ashley Taylor told a caller hearing.
The tribunal heard past week that much than 9,000 jobs volition beryllium mislaid successful 1 of the nation's largest wide terminations.
Rupert's Land
Founded successful 1670 by fur traders fixed a royal charter by the British monarch King Charles II, the institution erstwhile owned a swath of occidental and bluish Canada.
"It was hugely important to what we present telephone Canada," Amelia Fay, curator of the HBC postulation astatine the Manitoba Museum successful Winnipeg, which has much than 27,000 artifacts, told AFP.
The institution established trading posts, she explained, "initiating a assemblage process that shaped Canada."
Several of those outposts became Canadian cities, specified arsenic Winnipeg, Edmonton and Vancouver.
Source: AFP
However, the institution is besides seen contiguous arsenic a awesome of the colonization of Indigenous populations, which led to a argumentation of assimilation that was devastating for the First Nations.
In 1869, 2 years aft the founding of Canada, HBC sold its onshore holdings -- which were known arsenic Rupert's Land and included parts of what are present 5 provinces and 2 Arctic territories -- to the nascent country.
"That ample existent property transaction was a pivotal infinitesimal successful the past of Canada," Fay said.
The company, meanwhile, shifted into retail arsenic furs stopped being popular.
In the aboriginal 20th century, arsenic Canada's colonisation exploded with the accomplishment of much settlers, HBC built ample section stores successful cities crossed the country.
"The crushed HBC was truthful palmy was their quality to set to what was happening successful the world, to alteration course. And it seems that that is nary longer the case," Fay commented.
Liquidation income
Online buying and changing user habits, accidental retail experts, some played a portion successful the diminution of the iconic section store, whose downfall is conscionable the latest successful a drawstring of North American closures.
"We're witnessing the retiring of the section store arsenic we cognize it," said retail expert Bruce Winder.
The retail sector, helium said, has fractured into niches from discount chains similar Walmart to stores selling luxury and specialty brands.
Source: AFP
At once-bustling stores crossed Canada this week, shoppers picked done merchandise looking for bargains and memorabilia specified arsenic HBC wool blankets with colored stripes that day backmost to the 1700s and, according to Fay, "have go a awesome of the institution and Canada."
"They're each gone," a disappointed shopper successful Ottawa said with a sigh.
Sophia Cisneros, 22, recalled fondly that her parent utilized to instrumentality her buying here. "The Bay had immoderate we needed: clothes, shoes, kitchenware, beds sheets, furniture."
"You could walk the time here. It was fun," recalled Michelle Boulanger, 72, successful Montreal.
"Its closure is going to permission a large hole," she said. "It's sad."
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Source: AFP
