Business History Explorer Supported by the Business Archives Council

Hudson's Bay Co

Other Business Names:

  • North West Co
  • Simpson, Sir George
  • Thomson Organisation

Locations city-town / local authority / county1974 / region-state / country:

  • London, Greater London, Greater London, Greater London, England
  • Toronto ON, Canada
  • Winnipeg MB, Canada

Sectors:

  • Merchanting & trade, international & inland International trading inc chartered companies activities
  • Merchanting & trade, international & inland Leather, fur & other skins trading & trade

Notes:

Established in 1670 by royal charter which granted a monopoly of trade in the hinterland - Rupert's Land - of the Hudson Bay. Came to control vast territories and acted as a de facto government in them. Developed a major fur trade, trapping, processing furs and sending them to Europe, especially London. Also developed extensive trade in retailing goods to settlers. 1821 merged with the North West Co - for many years a keen rival - based at Montreal. Monopoly of fur trading increasingly undermined by mid 19th century. Sir George Simpson, c1786-1860, was a governor in Canada from 1820 and responsible for negotiating the merger with the North West Co and for the development of the business to 1860. In 1863 new shareholders bought out the old shareholders from when shares traded on the open market. In 1868 gave up ownership of much of its territory receiving cash as compensation. In the early 20th century the retail business developed rapidly to become Canada's largest non food retailer whose assets included department stores. In 1914-18 acted as international purchasing agents for the French government. In 1920s participated in the Russian fur trade. Head office transferred from London to Canada in 1970 when incorporated as a Canadian company. By 1980s Thomson family controlled business. Continues

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