Hudson’s Bay artifacts, including royal charter, can go up for auction, court rules

Hudson’s Bay, the iconic department store chain, has been given the green light to proceed with the auction of 4,400 artifacts and art pieces, including the 355-year-old royal charter that marked the beginning of the company. The Superior Court Judge Peter Osborne approved a sales process to be conducted by Heffel Gallery Ltd, a renowned auction house.

While Hudson’s Bay still needs to provide further details on the items beyond the charter that it intends to sell and outline the auction process, Judge Osborne deemed it reasonable to allow the retailer to move forward while ensuring the interests of creditors and stakeholders are taken into account. The department store chain, which filed for creditor protection earlier this year due to financial difficulties, aims to utilize the proceeds from the auction to repay its debts.

Initially, Hudson’s Bay intended to include the artifacts and art pieces in a previous sales process but realized that the unique cultural and historical significance of many items required a different approach. Concerns were raised by archival institutions, governments, and historians regarding the potential sale of items that hold profound cultural and spiritual importance, prompting a request from the Assembly of Manitoba Chiefs to halt the auction.

Judge Osborne raised questions about the potential impact of the auction on public access to historical items and the preservation of cultural heritage. Hudson’s Bay assured the court that it has the flexibility to remove items from the auction if necessary and that the assets are not bound by any obligations. The attorney general of Canada and other federal bodies cautiously support the auction, expressing interest in cataloging the artifacts to ensure their cultural significance is respected.

The auction is expected to feature a diverse range of items, including paintings dating back to 1650, point blankets, paper documents, and collectible Barbie dolls. Hudson’s Bay has been instructed to provide a catalog of the auction items to relevant parties to facilitate transparency and informed decision-making. In a separate matter, the court deliberated on the selection of a law firm to represent the company’s employees and retirees during the restructuring process.

The decision to proceed with the auction comes amidst Hudson’s Bay’s announcement of the liquidation of its six remaining stores not included in the ongoing selloff at other locations. The company, with a rich history as Canada’s oldest retailer, faces a pivotal moment as it navigates financial challenges and seeks to secure a sustainable future.