Hudson’s Bay headed to court to push for royal charter to be auctioned off next month

By Tara Deschamps Hudson’s Bay is expected to appear at an Ontario court today to push for its royal charter to hit the auction block next month. The extinct retailer wants permission for its financial adviser to run a sales process for the document, which established the Bay in 1670. If it gets the go-ahead, bidders will have to place an offer by Oct. 3, ahead of an auction that will be scheduled for Oct. 15. Anyone interested in the charter will have to bid at least $15 million and agree to permanently donate it to a Canadian public institution or museum, which will have to share it with similar organizations and Indigenous groups. After the Bay filed for creditor protection in March, it began planning for an auction until…

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