It is rare to see a company founded in the XVIIth century still operating today – but it was the case for Hudson’s Bay Company. Once a dominant force governed what is now Canada 200 yearsAnd one of the most legendary companies in North America, it is now found on one’s last legs.TODAY, the company has just Six remaining storesAnd a judge gave it Until early May To avoid complete liquidation.
Origins of the company
While countries like Spain, France and Portugal have created “state cultures” focused on conquering land and the establishment of trade, it was the British and Dutch companies in East India This has become known to direct whole territories independently. Around 1650, two French explorers –Radisson stone And Médard des Groseiliers—And an expedition to Hudson BayBelieving that it is rich in high quality furs. Prince Rupertcousin of King Charles IIprovided them with ships and a crew. A ship has reached Hudson’s bay, in what is now Quebec, where they have built a fort and have established a business to manage the lucrative trade in furs.
From the commercial empire to shopping centers
Over time, HBC has won a Fur trade monopoly. But in 1779, the North West Company was founded as a direct competitor. A turning point has entered 1849When a court ruled against a merchant for having violated the HBC commercial monopoly – but imposed No penaltyeffectively completing exclusive HBC control has increased, and British government The sovereignty recovered from the HBC territories has checked to consolidate what was going to become Canada. The United Kingdom has paid the business £ 300,000And as external interests grew, HBC moved to retailopening Department stores, supermarkets and shopping centers—A booming sector at the time, fueled by the growth of the wealth of the middle class.
The rise in electronic commerce
Everything has changed in the past decade with the E -commerce explosion. The boom in online purchases has considerably reduced store sales. HBC was finally bought by an American companyAnd over the years, its stores across Europe and the United States have gradually closed. COVVI-19 pandemiconly Six locations remainAnd there is No guarantee The company can avoid being completely dissolved. The Hudson Bay Society has survived wars,, loss of monopoliesAnd government interventionBut it seems that the only enemy could not overcome– was the Internet.