The State of the Hudson’s Bay Company - Bitter Sweet

• Posted on 3 May 2025
• By Rob Cahill
• Posted in HBC, Hudson's Bay COmpany
• 0

May 2 was the birthday of the historical Hudson’s Bay Company (HBC).  Sadly, the storied retail operation is barely hanging on in what is now its 355th year of operation. It was founded in 1670 with its Charter issued by King Charles II of England.  Incredible, really.

The HBC and its fur legacy played a major role in my family.  My father, Bernard Cahill,  the founder of our family business, was drawn to Canada in the 1950s based on the allure of the historical HBC.  He was an apprentice furrier in his hometown and after completing his military service, job opportunities were limited.  Little would he know that two of his sons would continue in his footsteps in the fur trade and that his second son (me) would become an international fur trader 4 decades later, in the newly branded fur trading company, North American Fur Auctions (NAFA) after the HBC sold off its fur division in the 1980s.  Many people I worked with at NAFA spent much of their careers in HBC fur auction facilities in London, New York, Montreal, and Toronto.  That journey took me all over the world, most notably in every Province and Territory of Canada, across the United States, throughout Europe, in Russia, Ukraine, China/Hong Kong, Korea and Argentina.  NAFA ended in a similar fate, going into Creditor Protection in 2019, only 1 year before HBC’s 350th Birthday.

I am grateful for that journey and happy to be able to continue both my family heritage in Peterborough, and of the greater fur trade internationally.  HBC history and its trade items have a special place in my heart, but it is also painful to see what has happened to this company with such a remarkable history and impact on the development of Canada.

What is most astounding to me is that after 355 years of the HBC, Canada continues to have one of the richest supplies of natural resources and we continue to have healthy, abundant to hyper-abundant populations of fur bearing animals across the country, notably beaver, raccoon, coyote, red fox, muskrat, squirrel and more.  Most Canadians see these wild animals or their signs, or read about their presence all around us.  Think about that - a 355 year sustainability track record.

This is a testament to the efforts of many people and organizations in conservation, animal welfare, design, manufacturing and promotion.    It may be the best track record of any use of natural resources.  Something to be celebrated and embraced.  What a legacy.  Cheers to the Honourable Company of Adventurers Trading into Hudson’s Bay.