Hudson's Bay heads back to court to seek approval for Canadian Tire deal
TORONTO — Hudson's Bay is expected to return to court Tuesday morning to seek approval for a $30-million deal it signed with Canadian Tire Corp. Ltd.
If the deal gets the OK from Ontario's Superior Court, Canadian Tire will be able to buy the rights to Hudson's Bay's intellectual property, which includes its name, its coat of arms and its iconic stripes.
Court documents have also shown the deal includes the Bay's Distinctly Home brand, its Hudson North apparel line and trademarks like 'Bay Days' and the Zellers catchphrase 'lowest price is the law.'
The move to get approval for the Canadian Tire deal comes months after Canada's oldest company filed for creditor protection and days after it closed all 96 of the stores it ran under its Bay and Saks banners on Sunday.
Hudson's Bay has said the sale and closures were necessary because the 355-year-old company was not able to attract an investor to keep some semblance of the current business alive.
Canadian Tire wound up being the winner of the Bay's trademarks after the company and its advisers invited 407 people and firms to bid on the intellectual property and other assets.
Adam Zalev, co-founder of Bay financial adviser Reflect Advisors, said in court documents that 17 bids were received. Thirteen were for intellectual property, but Canadian Tire's was 'superior to all other bids considered,' he said.
Hudson's Bay is expected to ask for a document describing why it chose Canadian Tire to be sealed because it contains commercially sensitive information, including the amounts offered by the next highest bidders.
On top of taking over the trademarks, Canadian Tire will also assume a contract Hudson's Bay has with Pendleton Woolen Mills, an Oregon-based blanket and clothing maker.
After Hudson's Bay and Pendleton disagreed about the use of some multistripe and 'point' motifs in 2009, they reached a settlement that gave Pendleton a license for some Bay trademarks.
Aside from being asked to approve the Canadian Tire deal, a court is also expected to hear two other Bay motions Tuesday.
The first is from RioCan Real Estate Investment Trust, which has a joint venture with the Bay.
The venture has leases for 12 properties the department store used, but RioCan wants to put the partnership into receivership to protect its stakeholders and maximize the value it can recover.
Receivership is a process allowing a third-party to take control of a company's assets, oversee their liquidation and repay creditors.
The court will also be asked to recognize the Bay as the former employer of all the department store's workers who have been terminated.
The declaration will allow the Bay's 9,364 staff, including more than 8,300 who have already lost their jobs, to recoup money they may be owed from the retailer under the Wage Earner Protection Program Act.
People who qualify under the federal program can earn up to $8,844.22 this year.
This report by The Canadian Press was first published June 3, 2025.
Tara Deschamps, The Canadian Press
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
a few seconds ago
- CTV News
Gabbard slashing intelligence office workforce, cutting budget by more than US$700 million
Director of National Intelligence Tulsi Gabbard speaks with reporters in the James Brady Press Briefing Room at the White House, Wednesday, July 23, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson) WASHINGTON — The U.S. Office of the Director of National Intelligence will dramatically reduce its workforce and cut its budget by more than US$700 million annually, the Trump administration announced Wednesday. U.S. Director of National Intelligence Tulsi Gabbard said in a statement, 'Over the last 20 years, ODNI has become bloated and inefficient, and the intelligence community is rife with abuse of power, unauthorized leaks of classified intelligence, and politicized weaponization of intelligence.' She said the intelligence community 'must make serious changes to fulfill its responsibility to the American people and the U.S. Constitution by focusing on our core mission: find the truth and provide objective, unbiased, timely intelligence to the President and policymakers.' The reorganization is part of a broader administration effort to rethink its evaluation of foreign threats to American elections, a topic that has become politically loaded given U.S. President Donald Trump's long-running resistance to the intelligence community's assessment that Russia interfered on his behalf in the 2016 election. In February, for instance, U.S. Attorney General Pam Bondi disbanded an FBI task force focused on investigating foreign influence operations, including those that target U.S. elections. The Trump administration also has made sweeping cuts at the U.S. Cybersecurity and Infrastructure Security Agency, which oversees the nation's critical infrastructure, including election systems. Gabbard's efforts to downsize the agency she leads is in keeping with the cost-cutting mandate the administration has employed since its earliest days, when Elon Musk and his U.S. Department of Government Efficiency oversaw mass layoffs of the federal workforce. It's the latest headline-making move by a key official who just a few months ago had seemed out of favor with Trump over her analysis of Iran's nuclear capabilities but who in recent weeks has emerged as a key loyalist. She's released a series of documents meant to call into question the legitimacy of the intelligence community's findings on Russian election interference in 2016, and this week, at Trump's direction, revoked the security clearances of 37 current and former government officials. The ODNI in the past has joined forces with other federal agencies to debunk and alert the public to foreign disinformation intended to influence U.S. voters. For example, it was involved in an effort to raise awareness about a Russian video that falsely depicted mail-in ballots being destroyed in Pennsylvania that circulated widely on social media in the weeks before the 2024 presidential election. Notably, Gabbard said she would be refocusing the priorities of the Foreign Malign Influence Center, which her office says on its website is 'focused on mitigating threats to democracy and U.S. national interests from foreign malign influence.' It wasn't clear from Gabbard's release or fact sheet exactly what the changes would entail, but Gabbard noted its 'hyper-focus' on work tied to elections and said the center was 'used by the previous administration to justify the suppression of free speech and to censor political opposition.' The Biden administration created the Foreign Malign Influence Center in 2022, responding to what the U.S. intelligence community had assessed as attempts by Russia and other adversaries to interfere with American elections. Its role, ODNI said when it announced the center's creation, was to coordinate and integrate intelligence pertaining to malign influence. In a briefing given to reporters in 2024, ODNI officials said they only notified candidates, political organizations and local election offices of disinformation operations when they could be attributed to foreign sources. They said they worked to avoid any appearance of policing Americans' speech. Sen. Tom Cotton, the Republican chairman of the Senate Select Committee on Intelligence, hailed the decision to broadly revamp ODNI, saying it would make it a 'stronger and more effective national security tool for President Trump.' Aamer Madhani, Eric Tucker And Ali Swenson, The Associated Press
CTV News
a few seconds ago
- CTV News
Mayor of Tisdale, Sask. resigns from office
The mayor of the Town of Tisdale, Saskatchewan, has resigned from office. In a statement shared on his Facebook Wednesday, Roy Skoglund wouldn't elaborate on why he resigned, but he said the demands of the role, combined with the lack of fair remuneration 'have made it increasingly challenging to balance my responsibilities to both my family and the community.' 'This decision was not made lightly. Serving as mayor has been an incredible honor, and I am proud of the work we have accomplished thus far for our community,' he wrote. A statement from the Town of Tisdale says Skoglund's resignation is effective Aug. 14, and that the town will take the necessary steps to address the vacancy. The statement, released on Tuesday, thanked Skoglund for his service and dedication. Skoglund was elected as Tisdale mayor last November. Tisdale is located about 215 kilometres northeast of Saskatoon.
CTV News
a few seconds ago
- CTV News
Woman arrested in D.C. over alleged social media threats against Trump
Warning: this story contains graphic details of threats of violence A woman from Indiana has been arrested by U.S. federal authorities after allegedly threatening U.S. President Donald Trump with kidnapping and murder through social media. According to an Aug. 18 press release from the U.S. Attorney's Office for the District of Columbia, Nathalie Rose Jones, 50, asked U.S. Secretary of Defense Pete Hegseth in a social media post to 'please arrange the arrest and removal ceremony of POTUS Trump as a terrorist on the American People from 10-2pm at the White House on Saturday, August 16th, 2025.' Jones is alleged to have written on Aug. 6 that 'I am willing to sacrificially kill this POTUS by disemboweling him and cutting out his trachea with Liz Cheney and all The Affirmation present.' According to the press release, the woman submitted to a voluntary interview with the U.S. Secret Service on Aug. 15, where she called Trump a 'terrorist' and a 'Nazi'. The D.C. Attorney's Office also said she had a 'bladed object' which would be used to 'carry out her mission of killing' Trump, her motive being to 'avenge all the lives lost during the COVID-19 pandemic' for which she blamed the presidents' policies and vaccine stance. The woman joined a protest in the U.S. capital, which marched around the White House complex on Aug. 16, investigators said. 'Following the march, the U.S. Secret Service interviewed Jones for a second time, during which she admitted that she had made threats towards President Trump during her interview the previous day,' the press release said. In the second interview, she denied having any present desire to harm Trump. However, law enforcement arrested her and she confirmed to be behind the threatening social media posts. The U.S. Attorney's Office identified an account on Instagram and Facebook labelled ' that was posting threatening messages towards the U.S. president. Not the first time Trump has been targeted Trump has faced multiple threats against his life since entering the world of politics. In July 2024 at a rally in Butler, Penn., then-Republican candidate Trump was shot at by Thomas Matthew Crooks, who fired eight shots at the rally in the direction of Trump. One rally attendee was killed, two others were wounded and Trump's ear was grazed before the shooter was killed by a Secret Service sniper. Ken Griffin Joins Donors to GoFundMe for Victims of Trump Attack Donald Trump is helped off the stage in Butler, Pennsylvania, on July 13. Photographer: Rebecca Droke/AFP/Getty Images (Rebecca Droke/Photographer: Rebecca Droke/AFP/) Following the incident in Butler, another potential assassin was intercepted by U.S. authorities, this time in Florida. Ryan Wesley Routh, a 58-year-old from Florida, was apprehended by Secret Service agents after being seen with a rifle at Trump International Golf Club. 'After the agent fired a service weapon in the direction of the rifle, a witness saw a man later identified as Routh fleeing the area of the tree line. Routh was later apprehended by officers from the Martin County Sheriff's Office, in coordination with the Palm Beach County Sheriff's Office,' a press release from the U.S. Justice Department wrote. A British citizen attempted take the firearm from a Las Vegas Metropolitan Police Department officer at a Trump rally in June 2016. He was sentenced to a year and one day in prison. Michael Steven Sandford, a 20-year-old from England overstayed his tourist visa and took shooting lessons at a Las Vegas gun range with a 9mm Glock pistol. The day after his lessons, Sandford attended a Trump rally and grabbed a Las Vegas police officer's 9mm Glock handgun and attempted to retrieve it from the officer's holster. He was immediately arrested and pleaded guilty to the charges laid against him. In 2017, a man from North Dakota stole a forklift in order to 'harm the president by flipping (his) limo with the forklift', the Associated Press reported. Forty-two-year-old Gregory Lee Leingang entered the presidential motorcade with his stolen forklift in Mandan, according to AP. However, 'the forklift got stuck in a gated area and Leingang fled on foot.' Leingang pleaded guilty to attempting to enter a restricted area with a restricted weapon.
