Hudson’s Bay is considering returning to its original intention to auction off its founding charter following increased interest from multiple potential buyers who aim to donate the 1670 document, according to recent court filings.
Previously, the Ontario Superior Court was set to review a motion to approve the sale of the charter to the Weston family, owners of Loblaw Cos. Ltd., for $12.5 million. The plan was for the Weston family’s holding company, Wittington Investments Ltd., to contribute the charter to the Canadian Museum of History. However, the hearing was postponed after DKRT Family Corp, owned by David Thomson, contested the Weston sale. Thomson, the chairman of Thomson Reuters, expressed willingness to offer at least $15 million for the charter, intending to donate it to the Archives of Manitoba.
Hudson’s Bay has refrained from providing comments on the potential return to the auction process. The new court documents do not reveal the other interested parties but indicate that the retailer will seek approval on September 29 to hold the auction on October 15.
If approved, interested parties will have until October 3 to submit bids starting at $15 million, with a requirement to commit to permanently donating the charter to a Canadian public institution or museum for wider dissemination. DKRT has pledged to initiate the bidding with a minimum offer of $15 million, as per the court documents.
This development has stirred some concerns, with Cody Groat, a history and Indigenous studies professor at Western University, expressing apprehension about reverting to an auction for the charter. Groat believes that the significant sums offered by the Thomson and Weston families may limit the participation of Indigenous nations in the auction process.
The royal charter, issued by King Charles II around 355 years ago, granted Hudson’s Bay extensive land rights across most of Canada, along with significant trade privileges and authority over Indigenous relations for an extended period. The document had been housed at Hudson’s Bay’s Toronto headquarters, rarely accessible to the public, until the company ceased operations and filed for creditor protection in March. Subsequently, the charter was relocated to an undisclosed location awaiting its fate.
Apart from the charter, Hudson’s Bay has disclosed its intention to sell 1,700 artworks and over 2,700 artifacts. Judge Peter Osborne has authorized the company to collaborate with Heffel Gallery for auction preparation; however, no specific auction date has been scheduled yet.
Additionally, a motion filed by Alvarez & Marsal, overseeing the Bay’s creditor protection case, requests court approval to handle the art sale independently from the charter auction. The motion aims to exclude 24 artifacts believed to have Indigenous heritage from the auction, ensuring their return or donation instead.
The motion proposes an online art auction on November 12, followed by an in-person auction at Heffel’s Toronto site on November 19. Discussions are also ongoing concerning the relocation of four war memorials currently housed at various Bay stores and two in storage, with efforts to ensure their appropriate display in collaboration with Canadian institutions and veteran’s associations.
Lawyer E. Patrick Shea has advocated for preserving war memorials related to Bay and Simpsons workers who perished in World War II, with discussions ongoing to secure suitable homes for these memorials.