THE bankruptcy of Hudson’s Bay Company (HBC), Canada’s oldest retailer, and the liquidation of its Saskatoon store will reverberate through our social and economic fabric. This closure, part of a broader shutdown of 74 stores nationwide, threatens to reshape Saskatoon’s downtown core, impacting jobs, community identity, and local commerce.
Economically…
The exit of Hudson’s Bay—a long-standing anchor tenant and dear friend—jeopardizes approximately 100-150 direct jobs, based on typical staffing for a mid-sized department store. These roles, spanning retail associates to management, provided stable employment, particularly for older workers and those without advanced training. The ripple effect extends to the over 9,000 jobs lost nationally, amplifying economic strain in a city of 266,000. And Midtown Plaza, already navigating retail shifts, faces a gaping vacancy that could deter foot traffic, threatening smaller stores reliant on the Bay’s draw. Landlords like RioCan, which owns nearby properties, may see reduced rental income, while the city’s tax base could shrink if the site remains unoccupied.
Socially…
Socially, the closure severs a cultural thread. For decades, the Bay was a communal hub where families shopped, teens worked first jobs, and holiday traditions like window displays thrived. Residents like Denis Hassett, who mourn its loss as a piece of history, reflect a broader sentiment of nostalgia and dislocation. On X, locals lament, “Saskatoon won’t feel the same,” underscoring the legendary store’s role in Saskatoon’s identity. In truth, without Hudson Bay, Downtown will feel the impact of a social space that once fostered connection. How we feel so sorry.
The economic void may deepen social challenges, and job losses could strain household incomes. And while competitors like Simons could absorb some demand, they lack the Bay’s scale and historical resonance, leaving a gap that’s hard to fill.
In short, Saskatoon’s social-economy—its blend of community ties and economic activity—faces a reckoning. The Bay’s exit signals a loss of a civic anchor, testing the city’s resilience.