Hudson’s Bay Company
Hudson’s Bay Company, North America’s oldest operating business with a history spanning over 350 years, has long been a cornerstone of Canadian retail. The company operated 80 Hudson’s Bay-branded department stores across Canada, along with 13 Saks OFF 5TH and three Saks Fifth Avenue stores under license, offering a curated assortment of apparel, beauty, and home goods. “The Bay” or “La Baie,” as it is affectionally known, also maintained a robust e-commerce platform and a portfolio of proprietary in-house brands led by its beloved Stripes brand, supported by a modern fulfillment network and deep cultural relevance in Canada. The IP assets were bolstered by valuable leases and a culturally significant collection of art and artifacts.
Recognizing the importance of the intangible assets when faced with the CCAA-proceeding filed by Hudson’s Bay, the Agent for the Company’s senior lenders engaged Hilco Streambank to work with the Company’s advisors to maximize the value of its intangible assets. The offering generated substantial interest both across Canada and internationally. Ultimately, the Company closed multiple transactions covering intangible assets, leases and inventory, including the sale of substantially all of its intangible assets with retailer Canadian Tire for $29.6 million.
