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Hamilton Spectator
30 minutes ago
- Business
- Hamilton Spectator
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. Companies in this story: (TSX:CTC.A, TSX:REI-UN)
Yahoo
an hour ago
- Business
- Yahoo
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. Companies in this story: (TSX:CTC.A, TSX:REI-UN) Tara Deschamps, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Toronto Star
6 days ago
- Business
- Toronto Star
Layoffs, logos, leases: What the latest release of Hudson's Bay court docs revealed
TORONTO - Hudson's Bay made a whopping, 590-page court filing late Monday that offers insight into how Canada's oldest company is winding down. Here are some of the new things the document revealed: Trademarks Canadian Tire will get the rights to 350 pages of trademarks and domain names belonging to Hudson's Bay if the $30 million deal the retailers brokered gets court approval. Included in the trademarks are rights to several variations of the multicolored stripe motif, the Hudson's Bay name, its coat of arms, its Distinctly Home brand, its luxury fashion business The Room and its Hudson North apparel line. ARTICLE CONTINUES BELOW There are also tag lines like the Zellers 'Lowest price is the law' slogan, as well as 'Shopping is good,' 'More than you came for,' 'Everything under the sun' and 'Bring it home.' Private labels Nordic Fleece, Beaumark Appliances and Black Brown 1826 also make an appearance on the list as do advertising lines like 'Official store of Christmas' and 'the official photographer of growing up.' The domains include website addresses connected to the Bay and its businesses but also and Stripes As part of the intellectual property deal, Canadian Tire will take over a contract the Bay had with Pendleton Woolen Mills, an Oregon-based blanket and clothing maker. The Bay and Pendleton disagreed about the use of some multistripe and 'point' motifs, a 2009 settlement and trademark licensing agreement filed in court shows. To end the spat, Hudson's Bay granted Pendleton a 'perpetual, royalty-free, worldwide non-exclusive trademark license.' Layoffs When the 80 Hudson's Bay and 16 Saks stores close by June 1, more than 8,300 workers will have lost their jobs. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW The job cuts will leave about 1,000 staff to work two additional weeks to let people pick up furniture and fixtures they bought and help the retailer vacate its properties. After June 15, about 118 employees will remain with 50 dedicated to the company's retail operations, 58 in its corporate division and 10 at distribution centres. Leases After filing for creditor protection in March, Hudson's Bay started looking for businesses wanting to take over its leases. It received 12 offers for 39 leases, including 28 covered by a deal it recently inked with B.C. mall owner Ruby Liu. That deal still needs landlord consent and court approval. Art and artifacts Hudson's Bay has 1,700 pieces of art and more than 2,700 artifacts, including the royal charter that birthed the business. It has court permission to begin exploring an auction of the items but Indigenous communities and some governments fear the pieces up for sale might include sacred or cultural items. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Hudson's Bay now says the pieces have been catalogued and government entities, public institutions and Indigenous stakeholders are being invited to sign non-disclosure agreements to view the virtual database. The company has yet to settle on processes that will guide how the auction will run. This report by The Canadian Press was first published May 27, 2025.
Epoch Times
6 days ago
- Business
- Epoch Times
Court Docs Offer Peek at Trove of Hudson's Bay Trademarks Canadian Tire Would Now Own
The Hudson's Bay trademarks Canadian Tire hopes to acquire span well beyond the retailer's name, coat of arms and iconic stripes, new court documents show. If the companies get court approval for the $30 million deal they recently brokered, filings made late Monday show Canadian Tire will own some of the country's oldest logos, its most memorable catchphrases and nods to parts of the Bay business that are now long gone. Included in the 350-page trove of trademarks are rights to the retailer's original name: the Governor and Company of Adventurers of England Trading into Hudson's Bay. When the it operated under that name, it was given a coat of arms made up of four beavers, two elks and a fox along with the motto 'pro pelle cutem,' a Latin phrase meaning roughly, 'a pelt for a skin.' As part of the proposed sale, Canadian Tire will get the rights to the coat along with some more modern vestiges of the 355-year-old brand. For example, the trove includes the rights to 'Bay Days'—the name of the retailer's most famous sales period—along with trademarks for its household goods brands Distinctly Home and its apparel brand Hudson North. Related Stories 5/6/2025 5/5/2025 Also in the mix are trademarks for now defunct household goods retailer Home Outfitters, the Bay's famed luxury business The Room, its Toronto event facility Arcadian Court and private labels Nordic Fleece, Beaumark Appliances and Black Brown 1826. Then, there are the taglines. Canadian Tire will own the Zellers 'Lowest price is the law' slogan, as well as 'Shopping is good,' 'More than you came for,' 'Everything under the sun' and 'Bring it home.' There are also many trademarks like 'Official store of Christmas,' 'Christmas street' and 'the official Christmas book of gift ideas,' which were likely used to markets its holiday window displays and catalogues. Hearkening back to its days running department store photo studios are rights to phrases like 'Canada's cutest baby,' 'the official photographer of growing up' and 'the official photographer of winning smiles.' Rounding out the group are trademarks like '1st Auto,' 'Bay Optical,' 'Bay Flowers,' and 'Pharmamart,' which alludes to other lines of business that the Bay has largely decamped. Court filings say Hudson's Bay will ask a court to approve the sale of such trademarks on June 3 as part of the main transaction. It is also expected to ask for a document describing why it chose Canadian Tire over 16 other bidders to be sealed because it contains commercially sensitive information.
Hamilton Spectator
6 days ago
- Business
- Hamilton Spectator
Layoffs, logos, leases: What the latest release of Hudson's Bay court docs revealed
TORONTO - Hudson's Bay made a whopping, 590-page court filing late Monday that offers insight into how Canada's oldest company is winding down. Here are some of the new things the document revealed: Trademarks Canadian Tire will get the rights to 350 pages of trademarks and domain names belonging to Hudson's Bay if the $30 million deal the retailers brokered gets court approval. Included in the trademarks are rights to several variations of the multicolored stripe motif, the Hudson's Bay name, its coat of arms, its Distinctly Home brand, its luxury fashion business The Room and its Hudson North apparel line. There are also tag lines like the Zellers 'Lowest price is the law' slogan, as well as 'Shopping is good,' 'More than you came for,' 'Everything under the sun' and 'Bring it home.' Private labels Nordic Fleece, Beaumark Appliances and Black Brown 1826 also make an appearance on the list as do advertising lines like 'Official store of Christmas' and 'the official photographer of growing up.' The domains include website addresses connected to the Bay and its businesses but also , , and . Stripes As part of the intellectual property deal, Canadian Tire will take over a contract the Bay had with Pendleton Woolen Mills, an Oregon-based blanket and clothing maker. The Bay and Pendleton disagreed about the use of some multistripe and 'point' motifs, a 2009 settlement and trademark licensing agreement filed in court shows. To end the spat, Hudson's Bay granted Pendleton a 'perpetual, royalty-free, worldwide non-exclusive trademark license.' Layoffs When the 80 Hudson's Bay and 16 Saks stores close by June 1, more than 8,300 workers will have lost their jobs. The job cuts will leave about 1,000 staff to work two additional weeks to let people pick up furniture and fixtures they bought and help the retailer vacate its properties. After June 15, about 118 employees will remain with 50 dedicated to the company's retail operations, 58 in its corporate division and 10 at distribution centres. Leases After filing for creditor protection in March, Hudson's Bay started looking for businesses wanting to take over its leases. It received 12 offers for 39 leases, including 28 covered by a deal it recently inked with B.C. mall owner Ruby Liu. That deal still needs landlord consent and court approval. Art and artifacts Hudson's Bay has 1,700 pieces of art and more than 2,700 artifacts, including the royal charter that birthed the business. It has court permission to begin exploring an auction of the items but Indigenous communities and some governments fear the pieces up for sale might include sacred or cultural items. Hudson's Bay now says the pieces have been catalogued and government entities, public institutions and Indigenous stakeholders are being invited to sign non-disclosure agreements to view the virtual database. The company has yet to settle on processes that will guide how the auction will run. This report by The Canadian Press was first published May 27, 2025.
