Hudson’s Bay is looking to revert back to its initial plan of auctioning off its founding charter following increased interest from potential buyers who aim to donate the 1670 document, recent court filings reveal. The Ontario Superior Court was set to consider a motion to approve the sale of the artifact to the Weston family of Loblaw Cos. Ltd. Their holding company, Wittington Investments Ltd., had offered $12.5 million for the charter with intentions to gift it to the Canadian Museum of History.
However, the hearing was postponed after DKRT Family Corp, owned by David Thomson, opposed the Weston sale. The firm, representing the billionaire chairman of Thomson Reuters, was prepared to bid at least $15 million for the document, planning to donate it to the Archives of Manitoba.
Hudson’s Bay did not comment on the decision to return to the auction plan, as per the latest court documents. While additional interested parties were not disclosed, the retailer is seeking approval to proceed with the auction on October 15, with a bidding deadline of October 3 set at a minimum of $15 million. Bidders must commit to permanently donating the charter to a Canadian public institution for sharing with other organizations and Indigenous groups. DKRT has pledged to be the initial bidder with a minimum offer of $15 million, the documents indicate.
The proposed auction has already encountered opposition. Cody Groat, a history and Indigenous studies professor at Western University, expressed concerns about the auctioning process, particularly noting the potential exclusion of Indigenous nations due to the substantial bids from the Thomson and Weston families.
The royal charter, issued by King Charles II approximately 355 years ago, granted Hudson’s Bay extensive land rights, shaping its authority over trade and Indigenous relations across Canada for many years. The document had been housed at the Bay’s Toronto headquarters until the company’s recent closure and relocation to an undisclosed facility.
Apart from the charter, Hudson’s Bay plans to sell 1,700 art pieces and over 2,700 artifacts. Judge Peter Osborne has authorized the company to collaborate with Heffel Gallery to prepare for an auction of these items, although no sale date has been scheduled.
Additionally, a motion submitted by Alvarez & Marsal, overseeing the Bay’s creditor protection case, seeks court approval to conduct a separate auction for the retailer’s art collection. The motion, to be heard on September 25, specifies that 24 artifacts believed to have Indigenous significance will be excluded from the auction, either returned or donated instead.
The auction for the art is projected to occur online on November 12, followed by an in-person event on November 19 at Heffel’s Toronto venue. Discussions are underway to ensure appropriate placement of four war memorials currently at various Bay stores and two in storage, aiming to maintain public access in their respective cities.
Notable historical items at stake in the auction include paintings dating back to 1650, point blankets, paper documents, and collectible Barbie dolls, as per a source familiar with the process. The Bay has also engaged in conversations with Canadian institutions and veteran associations to guarantee the proper donation and display of war memorials. E. Patrick Shea, a lawyer involved in the process, has advocated for preserving memorials commemorating Bay and Simpsons workers who perished in World War II, emphasizing the importance of finding suitable homes for these historical artifacts.
