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6h ago

Hudson’s Bay Seeks Court-Approved Oct. 15 Auction for 1670 Charter

A court hearing on Sept. 29 will determine whether an Oct. 15 auction proceeds.

The 1670 royal charter signed by King Charles II establishing Hudson's Bay, is shown on display at the Manitoba Museum where it was loaned to be displayed alongside its permanent collection of Hudson's Bay artifacts, in this 2020 handout photo. THE CANADIAN PRESS/Handout - Manitoba Museum (Mandatory Credit)
A pedestrian passes the Hudson's Bay store in downtown Calgary on March 20, 2025. After closing its stores earlier this year, the company's 1670 founding charter was moved to an undisclosed facility while it awaits its fate.
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Overview

  • Court filings say Reflect Advisors will run the auction, with bids of at least $15 million due by Oct. 3 and any result subject to court approval.
  • DKRT Family Corp., linked to David Thomson, committed to open the bidding at no less than $15 million.
  • Any qualifying offer must commit to permanently donating the charter to a Canadian public institution, keeping it in Canada, and enabling sharing with other institutions and Indigenous groups.
  • Earlier proposals included Wittington Investments’ $12.5 million plan to donate the document to the Canadian Museum of History and DKRT’s bid to give it to the Archives of Manitoba.
  • Separate filings by the court monitor seek approval for an art sale with a Nov. 12 online auction and a Nov. 19 in-person event at Heffel’s Toronto site, while 24 items believed to be of Indigenous origin are being removed for return or donation amid ongoing objections from archivists and Indigenous leaders.