The department store chain will sell its intellectual property for C$30 million ($21.5 million, £16.2 million) after applying for creditor protection.
The corporation, also known as HBC, made the move after closing all of its locations, citing US tariffs and a changing retail environment during the epidemic as insurmountable obstacles.
With more than 1,700 locations nationwide, Canadian Tire is another significant domestic company that offers everything from hardware to athletic products.
Why consumers are purchasing these blankets for hundreds of dollars
An over 350-year-old brand is at risk. HBC was established in 1670 and had a royal charter to regulate trade in certain regions of Canada. The business started selling wool “point” blankets made in Britain that had blue, red, green, and yellow stripes.
