Hudson's Bay Charter Saved: Thomson and Weston Families' $18 Million Historic Purchase

What This Means for You

One of Canada's most significant historical documents has been saved from potential loss to private collectors or foreign buyers. The 1670 Royal Charter that created the Hudson's Bay Company—and granted it control over roughly one-third of modern Canada—will now be permanently held by four Canadian museums and accessible to the public.

For Canadians interested in our history, this is genuinely good news. The document that shaped the nation's colonial development, territorial boundaries, and relationships with Indigenous peoples will be preserved, displayed, and available for study indefinitely.

Where and When You Can See the Charter

The Thomson and Weston families are donating the charter to four institutions:

Museum	Location	Expected Display	Specialty
Manitoba Museum	Winnipeg, MB	Primary home	HBC history, fur trade
Canadian Museum of History	Gatineau, QC	Rotating display	National significance
Royal Ontario Museum	Toronto, ON	Rotating display	Colonial history
Archives of Manitoba	Winnipeg, MB	Research access	Document preservation

When can you see it? The transition will take several months as the museums coordinate:

Early 2026: Transfer from HBC bankruptcy proceedings
Mid-2026: Conservation and display preparation
Late 2026: Expected public exhibitions begin

How to plan your visit:

Manitoba Museum (likely primary display location)
- Address: 190 Rupert Ave, Winnipeg, MB
- Hours: Tuesday-Sunday, 10am-5pm
- Admission: Adults $17.50, Seniors $15, Youth $13.50
- Website: manitobamuseum.ca
Canadian Museum of History
- Address: 100 Laurier Street, Gatineau, QC
- Hours: Varies by season
- Admission: Adults $24, Seniors $22, Students $20
- Website: historymuseum.ca
Royal Ontario Museum
- Address: 100 Queens Park, Toronto, ON
- Hours: Daily 10am-5:30pm (Fridays until 8:30pm)
- Admission: Adults $26, Seniors $23, Students $21
- Website: rom.on.ca

Tips for your visit:

Check museum websites for special HBC charter exhibitions
Guided tours often provide deeper context
Consider becoming a member for free repeat visits
Download museum apps for enhanced experiences

Understanding What the Charter Actually Granted

The 1670 charter wasn't just a business document—it was an unprecedented grant of territorial control that shaped Canada's development.

What King Charles II granted to the "Governor and Company of Adventurers of England Trading into Hudson's Bay":

Grant	What It Meant	Modern Equivalent
"Rupert's Land"	All lands draining into Hudson Bay	~3.9 million km² (40% of modern Canada)
Trade monopoly	Exclusive right to fur trade in territory	Would be illegal monopoly today
Governance	Power to make laws, enforce justice	Provincial/territorial government powers
Land rights	Could grant, sell, or lease lands	Real estate development rights
Military force	Could maintain forts and armed forces	Private military authorization

The territories included:

All of Manitoba
Most of Saskatchewan
Southern Alberta
Parts of Ontario and Quebec
Northern territories
Parts of current US states (Minnesota, North Dakota)

Important context: This land was already home to numerous Indigenous nations—Cree, Assiniboine, Ojibwe, Dene, Inuit, and others. The charter was granted without their consent or even knowledge, creating legal frameworks that would be used to dispossess Indigenous peoples for centuries.

The Indigenous History Connection

The HBC charter is inextricably linked to Indigenous history in ways that matter today.

Why this document matters for reconciliation discussions:

Treaty relationships: Many numbered treaties (Treaties 1-11) were negotiated within Rupert's Land boundaries
Land claims: The charter established European legal frameworks still cited in court cases
Economic history: Indigenous peoples were essential trading partners yet excluded from governance
Cultural impact: Fur trade transformed Indigenous economies and societies

What museums are doing: The four receiving museums have committed to presenting the charter with appropriate Indigenous context:

Consultation with Indigenous communities on display interpretation
Indigenous voices included in exhibition narratives
Acknowledgment of the document's role in colonization
Educational programming on treaty relationships

For Indigenous visitors: The Manitoba Museum in particular has significant Indigenous collections and staff. Contact the museum directly for information on Indigenous-specific programming related to the charter.

If You're an HBC Creditor or Former Employee

The charter sale is part of HBC's bankruptcy proceedings. Here's what you need to know about remaining claims:

Bankruptcy timeline:

March 2025: HBC filed for creditor protection (CCAA)
March-December 2025: Store closures, asset sales
December 2025: Charter sale approved, creditor protection extended to March 31, 2026

What the $18 million covers: The charter sale proceeds go to HBC's creditors, not shareholders. Priority typically follows:

Secured creditors (banks, bondholders)
Employee claims (wages, severance, pensions)
Unsecured creditors (suppliers, landlords)
Shareholders (usually nothing in bankruptcy)

If you have outstanding claims:

Claim Type	Who to Contact	Deadline
Employee wages/severance	CCAA monitor (Alvarez & Marsal)	Check with monitor
Gift cards	May be partially honoured	Check HBC website
Supplier invoices	File with CCAA monitor	Per court schedule
Lease claims	File with CCAA monitor	Per court schedule

Gift card holders: If you still have HBC gift cards:

They cannot be redeemed at closed stores
Check with the CCAA monitor about any potential recovery
Unsecured creditors typically recover cents on the dollar
Consider it a lesson about gift card risks in retail

The Art and Artifacts Sale

The charter is just one piece of HBC's historical collection being sold to pay creditors.

What else was sold: HBC held approximately 4,400 pieces of art and artifacts accumulated over 355 years:

Historical paintings and photographs
Fur trade era tools and equipment
Company records and documents
Indigenous artifacts (controversial)
Maps and surveys

Where these items went:

Some purchased by Canadian museums
Some sold to private collectors
Some acquired by Indigenous communities (artifacts related to their nations)

Concerns raised: Heritage advocates worried about:

Items leaving Canada permanently
Private collectors limiting public access
Indigenous artifacts being sold rather than repatriated
Loss of cohesive collection documentation

The charter's sale to Canadian families for museum donation represents the "best-case scenario" that advocates hoped for.

The Philanthropic Model

The Thomson and Weston families' approach offers a model for heritage preservation:

The deal structure:

Purchase price: $18 million (joint bid)
Donation: Charter goes to four museums
Additional funding: $5 million for preservation and display
Future support: Commitments from Desmarais family, Power Corp., Hennick Family Foundation

Why this matters:

Document stays in Canada permanently
Public access guaranteed
Professional conservation ensured
Research access maintained
No single institution bears full cost

The families involved:

Family	Company	Net Worth (Est.)	Philanthropy Focus
Thomson	Thomson Reuters	$50+ billion	Media, arts, culture
Weston	Loblaw, Wittington	$15+ billion	Environment, health, heritage
Desmarais	Power Corp.	$5+ billion	Arts, education

What This Tells Us About Canadian Heritage Preservation

The HBC charter saga reveals both strengths and vulnerabilities in how Canada protects its heritage.

What worked:

Wealthy families stepped up when public institutions couldn't
Museums collaborated rather than competed
Court process allowed time for proper resolution
Public attention pressured for Canadian outcome

What's concerning:

Relied on private philanthropy, not public policy
Could have gone to foreign buyer without intervention
No automatic protection for significant artifacts
Bankruptcy process prioritizes creditors over heritage

Policy gaps identified: Canada lacks a comprehensive cultural property protection system that would:

Automatically flag significant artifacts in corporate insolvencies
Provide government right of first refusal
Ensure Indigenous consultation on relevant items
Create funding mechanisms for emergency acquisitions

Your Action Plan

If you want to see the charter:

This week:

Sign up for museum newsletters (Manitoba Museum, CMH, ROM)
Check museum websites for HBC charter exhibition announcements
Plan potential 2026 museum visits

When exhibitions open:

Book guided tours for deeper context
Visit Manitoba Museum for most comprehensive HBC history
Consider visiting all four institutions over time
Look for related Indigenous programming

If you're interested in Canadian heritage:

Join museum membership programs
Advocate for stronger cultural property protection laws
Support Indigenous-led heritage initiatives
Learn about treaties in your area

The News: What Happened

Ontario Superior Court Judge Peter Osborne approved the $18 million sale of the 355-year-old Hudson's Bay Company charter to holding companies belonging to the Thomson and Weston families on Thursday, December 11, 2025.

According to BNN Bloomberg, the charter was put up for sale because Hudson's Bay filed for creditor protection in March 2025 and has since closed all of its stores. The company has been selling art and artifacts to pay creditors.

CBC News reports that the Weston family initially offered $12.5 million in July to purchase and donate the charter to the Canadian Museum of History. However, the Thomson family's holding company, DKRT Family Corp., argued it had been waiting for an auction to make its own $15 million bid for the Archives of Manitoba.

Rather than compete, the two families joined forces. The Globe and Mail reports they made a combined $18 million bid in mid-November, announcing plans to donate the charter to four museums: the Manitoba Museum, Canadian Museum of History, Royal Ontario Museum, and Archives of Manitoba.

HBC's financial advisers, Reflect Advisors, reached out to 150 potential buyers to see if anyone would top the bid. No one came forward, according to Global News, making the Thomson-Weston consortium the successful bidder.

The families have also committed $5 million for preservation and display efforts, with additional support pledged from the Desmarais family, Power Corp. of Canada, and the Hennick Family Foundation.

Judge Osborne also approved an extension of HBC's creditor protection period to March 31, 2026.

Analysis: Why This Matters

The charter's preservation represents more than saving an old document—it's about maintaining connection to a formative period in Canadian history, including parts many Canadians don't fully understand.

The Charter's Enduring Legal Significance

While the HBC no longer owns Rupert's Land (Canada purchased it in 1870), the charter remains legally and historically relevant:

In ongoing legal cases:

Cited in Indigenous land claims and treaty rights cases
Referenced in boundary disputes and property law
Used as evidence in resource rights litigation

For historical understanding:

Documents European claims to Indigenous territories
Shows origins of Canadian boundaries
Illustrates colonial legal frameworks still affecting Indigenous peoples

Why Private Philanthropy Had to Step In

The federal government didn't intervene to purchase the charter directly. This raises questions about cultural policy:

Arguments for government intervention:

Charter is of national significance
Public ownership ensures permanent access
Sets precedent for future heritage protection
Aligns with Truth and Reconciliation principles

Arguments against:

HBC was private company; government shouldn't bail out creditors
Museums have acquisition budgets for such purposes
Philanthropy achieved same outcome
Limited taxpayer appetite during fiscal constraints

What Happens to the Rest of HBC

The charter sale is one piece of a broader unwinding:

Already completed:

All retail stores closed
Art and artifact auctions held
Real estate sales ongoing

Still to come:

Final creditor distributions
Potential brand/name licensing
Resolution of remaining legal matters
CCAA protection ends March 31, 2026

The HBC name may live on through licensing, but the company that received the 1670 charter no longer exists in any meaningful operational sense.

Other Perspectives

Thomson and Weston Families

The families framed their purchase as a civic duty, ensuring a foundational Canadian document remains accessible to all Canadians in perpetuity.

Museum Professionals

Curators welcomed the collaborative ownership model, noting it allows the charter to be displayed across the country rather than held by a single institution.

Indigenous Leaders

Some Indigenous leaders have called for the charter's display to prominently acknowledge that the lands "granted" were already occupied, and that the document represents the beginning of colonial dispossession.

Heritage Advocates

While relieved by the outcome, heritage professionals note the charter's salvation depended on philanthropy rather than policy, leaving other significant artifacts vulnerable in future corporate insolvencies.

HBC Creditors

Creditors focused on recovering maximum value from assets. The $18 million sale, while below some estimates of the charter's potential auction value, concluded the process efficiently.

Corrections Policy

We strive for accuracy. If you find an error in this analysis, please email us at [email protected]. We will promptly investigate and correct any factual inaccuracies.

Updates:

No corrections to date (as of December 12, 2025)

Canadian History Museums: Where to explore our past
Truth and Reconciliation: Understanding Indigenous history
Manitoba Museum: Primary charter display location

Sources

BNN Bloomberg - "$18-million sale of HBC charter to Thomsons, Westons approved by court" (December 11, 2025)
CBC News - "Thomson, Weston families win Hudson's Bay charter auction with sole bid" (December 2025)
CBC News - "'Best-case scenario': Hudson's Bay charter to remain in public hands" (December 2025)
Globe and Mail - "Hudson's Bay charter to be sold to Thomson, Weston families" (November 2025)
Global News - "$18-million sale of HBC charter to Thomsons, Westons approved by court" (December 11, 2025)