Hudson’s Bay plans auction for historically significant Canadian art and artifacts

The Hudson’s Bay Company is planning an auction to sell its most historically significant art and artifacts.

The company is now in the process of liquidating most of its stores across Canada — six stores will remain open, for now. Facing $950 million of debt, the company filed for creditor protection in March.

Sales are now on at stores slated for closure.

With a history dating back to 1670, the Hudson’s Bay Company also has a number of Canadian artifacts. These items will be sold, pending court approval, in an art auction, the Bay announced this week.

“Recognizing the extraordinary cultural and historical value of these items—including the Company’s Royal Charter and other artifacts deeply intertwined with Canadian history”, Hudson’s Bay Company and its financial advisor, Reflect Advisors, LLC, is planning the auction apart from the broader sale, the company said.

“This approach ensures that the care, consideration, and expertise required for these pieces can be fully prioritized through a separate process facilitated by a fine art auction house with the assistance of HBC and Reflect Advisors, LLC,” the company said.

The Hudson’s Bay Company was a fur trading business for most of its history.

Chartered on May 2, 1670, it is one of the oldest continually operating companies in the world, according to the Canadian Encyclopedia. The English royal charter in granted the company the right of “sole trade and commerce” over an area known as Rupert’s Land in the Hudson Bay drainage basin.

The company evolved to establish trading posts then department stores across Canada. It retained its historic roots including the iconic striped wool blanket. The blankets were a regular trade item in 1780.

Further details on the auction will be provided at a later date.