Oberfeld Snowcap to Monetize Hudson’s Bay Leases

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March 25, 2025

Screen Shot 2025-03-25 at 11.55.22 AM — Hudson's Bay store at Rockland Centre in Montreal. Photo: Tom Bombadil/Google Maps

The Hudson’s Bay Company (HBC), currently undergoing a court-supervised restructuring under the Companies’ Creditors Arrangement Act (CCAA), has appointed Oberfeld Snowcap Inc. as its exclusive real estate consultant to manage the monetization of its leased store portfolio across Canada. The move is a significant step in HBC’s broader financial and operational overhaul following its March 2025 filing for creditor protection.

The engagement was formalized through a Consulting Services Agreement dated March 20, 2025, and subsequently approved by the Ontario Superior Court of Justice (Commercial List). Filed court documents provide insight into Oberfeld Snowcap’s monetization role.

A Strategic Appointment Amid Financial Turmoil

Oberfeld Snowcap, a Montreal-headquartered commercial real estate advisory firm specializing in retail, has been selected to assist Hudson’s Bay in evaluating and facilitating lease-related transactions that could generate value or reduce liabilities. The appointment followed consultations with HBC’s internal advisors and Alvarez & Marsal Canada Inc., the court-appointed Monitor overseeing the restructuring.

Jay Freedman, President of Oberfeld Snowcap, and Jeff Ross, Managing Director, are leading the project, leveraging their combined decades of experience in retail lease advisory across Canada.

Scope of Oberfeld Snowcap’s Engagement

Under the terms outlined in the consulting agreement, Oberfeld Snowcap is tasked with managing the lease monetization process for Hudson’s Bay’s real estate portfolio across Canada. This includes providing detailed local market insights to evaluate the value and strategic potential of individual leased locations. The firm will leverage its long-standing relationships with landlords, developers, and other stakeholders to identify and pursue opportunities for lease sales, assignments, transfers, or terminations that align with HBC’s restructuring objectives.

Jeff Ross, Managing Director, Oberfeld Snowcap

In addition to these core advisory functions, Oberfeld Snowcap may offer licensed real estate brokerage services where applicable, ensuring full transactional support if and when deals progress to execution. The firm is also responsible for supporting the negotiation of binding commercial and financial terms for lease transactions and will work collaboratively with other brokers or professionals involved in specific deals.

Court documents indicate that all offers or inquiries regarding HBC leases must be formally reported by Oberfeld Snowcap to both Hudson’s Bay and the court-appointed Monitor, Alvarez & Marsal Canada Inc. The firm must operate strictly under HBC’s direction and is not authorized to make independent decisions or representations on behalf of the retailer.

Term and Timeline of Agreement

The engagement began on March 21, 2025, and is currently set to conclude on September 30, 2025, unless extended by Hudson’s Bay in 30-day increments. Given the complexity of HBC’s lease portfolio, it remains possible that the term may be extended beyond the initial six-month period, according to court documents.

Hudson’s Bay store at Cambridge Centre in Cambridge, ON. Photo: Apple Maps

Compensation Structure

Oberfeld Snowcap’s compensation under the agreement includes both a fixed monthly work fee and a performance-based success fee. The firm will receive a monthly work fee of C$80,000, which is pro-rated for any partial months worked and capped at a total of C$240,000 (plus applicable taxes) over the initial term of the agreement. This fee is creditable against any success fees that may be earned during the engagement.

The success fee component is based on the net proceeds generated from court-approved lease transactions. Specifically, Oberfeld Snowcap will receive 10% of the net proceeds from each completed transaction, subject to a maximum of C$175,000 per lease (plus taxes). These success fees are payable only after the successful closing of a transaction, provided an invoice has been submitted. No further compensation is owed beyond these amounts, and Oberfeld Snowcap is expected to cover its own operating expenses throughout the engagement, according to court documents.

Hudson’s Bay store at Mic Mac Mall in Dartmouth, Nova Scotia. Image: Apple Maps

Monetizing Leased Store Locations Across Canada

With a substantial number of leased locations across the country, including both flagship urban stores and suburban mall sites, Hudson’s Bay’s real estate holdings represent a significant asset base. Oberfeld Snowcap’s role will be to assess the portfolio and help identify opportunities to unlock value through lease sales, transfers, assignments, or negotiated terminations. The firm is expected to evaluate each lease based on market demand, location potential, and landlord interest, with the goal of maximizing returns or reducing liabilities for HBC.

In many cases, underperforming or non-core sites could be repositioned for other retailers or redeveloped altogether. By leveraging its national network and deep industry relationships, Oberfeld Snowcap is positioned to facilitate transactions that align with Hudson’s Bay’s restructuring strategy while helping reposition prime real estate assets for future retail use.

A National Firm with Deep Market Knowledge

Founded over 40 years ago, Oberfeld Snowcap Inc. is widely regarded as one of Canada’s foremost commercial real estate advisory firms specializing in the retail sector. With a long-standing reputation for representing major retailers, landlords, and developers across the country, the firm brings a wealth of experience to Hudson’s Bay’s restructuring process. Its services span tenant representation, lease restructuring and disposition, market analytics, site selection, and strategic planning — making it well suited to manage complex real estate portfolios during times of transition.

Headquartered in Montreal, Oberfeld Snowcap maintains offices in Toronto, Calgary, and Vancouver, along with a U.S. presence in Boca Raton, Florida. The firm’s national platform enables it to deliver regionally informed insights while maintaining a unified approach to real estate strategy.

Oberfeld Snowcap’s value proposition lies in its data-driven approach, which combines real-time market intelligence with deep industry relationships. This enables the firm to identify and execute real estate strategies that create long-term value. Its client roster spans startups, national chains, and international brands, reflecting its versatility and depth in the Canadian retail landscape.

Over the coming months, Oberfeld Snowcap will work closely with HBC leadership and the Monitor to identify monetization opportunities. As court filings continue to be made public, and monetization transactions begin to close, industry observers will watch to see what happens next with the newly available spaces.

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Industria Coiffure: educating and inspiring customers with expert knowledge and service

By

Sean Tarry

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March 25, 2025

Industria Coiffure at Place Rosemère. Image: Industria Coiffure

A person’s appearance, whether they’d like to admit it or not, can often say quite a bit about them. From subtle and laid back to wild and untamed, and every look in between, appearance bears at least a small glimpse into an individual’s personality and uniqueness. And, when it comes to expressing oneself, a person’s choice of hairstyle and how they like to keep it can serve as one of the more significant ways by which they can represent themselves. As a result, the relationship between any individual and the people they trust to help them achieve their desired look is an intimate one, requiring a combination of experience, knowledge and skills. They are requisites for the role that Montreal-based Industria Coiffure easily meet. However, according to the company’s President and Co-Founder, Jean-Nicola Lapolla, supporting it all is the company’s willingness to remain on top of industry trends and styles.

“Hair styles, and the products that are used by professionals all over the world are constantly changing,” he says. “It requires hairstylists and retailers selling these products to be consistently aware of everything that’s happening within the industry, including all of the latest products as well as those that customers are seeking. It’s something that, as a business, we need to be completely on top of, resulting in the need for us and our team of expert hairstylists to constantly educate ourselves on anything related to developments and innovation within the world of hair style and fashion. Because of the speed at which trends occur within this industry, it’s imperative for salons and stylists to be as diligent as they can be concerning education.”

Foundational support

He says it’s one of the qualities of the company that has helped define its legacy over the years, as well as going a long way toward helping to carve its way forward. It’s a quality, among many others, that was engrained within the company when Lapolla’s father, Aldo, an immigrant hairdresser, began managing and developing the company at its original Place Ville Marie location back in the 1960s. An entrepreneur with an open mind and a love for people, Aldo Lapolla had a clear vision of what success meant for the company, adapting and evolving it with each fashion era and every change within the market. Jean-Nicola says that his father’s openminded approach and the importance he placed on communication laid the foundation for Industria Coiffure, enabling the operation to maintain its success for more than half a century.

“I grew up within the salon and the business,” says Lapolla. “Since the age of eight, I’ve been involved. When I wasn’t at school, I was at one of our locations. Whether I was sweeping the floor, manning the cash register, arranging appointments for customers, or anything else, I was actively involved and watching my father, learning every single day. It was the absolute best kind of training I could have ever wished for, preparing me to one day assume leadership of the company. He taught me the value of people and the way to treat our teams, customers of the salon and others operating in and around the industry, always stressing the importance of communication and the transfer of knowledge.”

Customer-focus

Today, coming up on 20 years since Jean-Nicola took over the business, Industria Coiffure operates 18 locations in Greater Montreal, including locations at CF Carrefour Laval, CF Fairview Pointe-Claire, CF Promenades St Bruno and Carrefour de l’Estrie, to name a few. It’s established itself through the years as the premier high-end destination for men and women in the province of Quebec looking to fulfill their hair needs, providing exceptional hairstyling services administered by expert professionals, while also carrying an extensive range of top hair care and other products, enjoying direct partnerships with brands including L’Oréal, Kérastase, Oribe, Redken, and others. In fact, 40 to 100 per cent of the space within the majority of Industria Coiffure’s locations house products. And the reason for this, explains Lapolla, has everything to do with the customer.

“We’re here to meet the needs of each customer that enters any one of our locations,” he asserts. “And because the service that we offer is so high-touch and so intimate, it enables us to develop really close, strong relationships with our customers, allowing us the opportunity to hear firsthand from them exactly what they’re looking for and what they want to achieve with each visit. As a result, and as an extension of our education, we’re able to offer expert advice to every customer and bring the products into the store that will help them maintain their look and take proper care of their hair. We’re all about transferring the knowledge that we have to our customers, helping them look and feel better.”

Education is key

Lapolla underscores the importance of education among his staff in order to share it with customers, differentiating Industria Coiffure from many of its competitors. However, another distinction about the hairstyling company that sets it apart is the fact that its locations are exclusively found within shopping centres. It’s a strategy that he explains came about fortuitously by way of the relationships that his father had made with mall landlord Cadillac Fairview, Ivanhoe Cambridge, Cogir and others. But it’s one that he describes as “unique”, providing the company with opportunities that it may not have enjoyed otherwise.

“Because our locations are found exclusively within shopping centres in Montreal, our perspective might be a little different from some of our competitors,” he says. “We have the opportunity to work with landlords and others within the shopping centres where we’re located to continuously enhance the experience that we’re offering. And, our legacy in malls has also perhaps made it a little easier to get in to the newly developed Royalmount, which could prove to be an excellent location for us. Being located in shopping centres also presents challenges, including very high lease prices. But we’re a company that’s never been afraid of risk. You need to be comfortable with a certain degree of risk and pressure or you won’t succeed in this business.”

Continued evolution and success

Lapolla goes on to explain that the company intends to continue to build on the solid reputation that it’s made for itself in the province of Quebec, with plans to evolve the brand further through the introduction of its Boutique and Hair concept. The Industria Coiffure Boutique, located at Place Rosemère in Rosemère represents the next big step for the company, says the company’s President, providing the blueprint for the brand to follow over the course of the next few years. The concept, he explains, is ultra-high-end, boasting the widest range of hair care and cosmetics products possible and features consultations administered by trained experts who provide advice to visitors concerning all things hair and style. It’s a direction that he says the company is working really hard to roll out to all of its locations as quickly as possible.

“Our Boutique concept is beautiful and really conveys the future of the Industria Coiffure brand well. All of our experience with our customers and brand partners went into this decision, guiding our direction. It’s required a lot of financial investment to this point, and so, our challenge moving forward is replicating the incredible experience inside our Boutique to all of the other locations within our company. In order to do this, to take the company to the next level and expand our service and offering, we’re looking for partners. With some help, it will enable us to standardize all of our stores, shift our marketing, and continue to evolve the brand to enhance our reputation as a leader within the salon and hair industry.”

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Edmonton-based El Corazon expands with ambitious growth plans (Photos)

By

Mario Toneguzzi

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March 25, 2025

Hifa Maleki and Percy Wiredu. Photo by Mario Toneguzzi

El Corazon, the Latin-inspired restaurant concept founded by Hifa Maleki and Percy Wiredu, is on an expansion trajectory that could transform the culinary landscape of Western Canada.

Since opening their first location in Edmonton’s Glenora in 2022, the dynamic duo has quickly established a name for themselves with their vibrant, Latin-flair infused menu.

There’s also a restaurant in the Keswick neighbourhood as well as the sister brand El Jardin in Edmonton’s downtown.

The pair are eyeing more opportunities in the next few years, with a goal to open up to 10 restaurants across Western Canada.

The Edmonton-based restaurant owners are confident that their focus on community and consumer-driven pricing has played a pivotal role in their success. The recent growth and reception of their brand demonstrate how smaller, independent restaurants are thriving in Edmonton’s evolving food scene, which has seen a shift from chain dominance to a diverse, locally-driven dining culture.

Hifah Maleki and Percy Wiredu. Photo by Mario Toneguzzi — Hifa Maleki and Percy Wiredu. Photo by Mario Toneguzzi

In a post-COVID world, their hands-on approach to management has proven to be key in navigating rising operational costs and a highly competitive market.

Looking ahead, Maleki and Wiredu are planning to stabilize their current locations while focusing on team development, with expansion into both Edmonton and Calgary markets on the horizon. Despite the challenges of increased food costs and tariffs, El Corazon continues to provide exceptional value to diners, offering affordable yet high-quality dining options. The duo’s commitment to quality, innovation, and community positioning makes them a noteworthy player in the growing restaurant scene in Canada.

Maleki said El Jardin opened in the downtown in 2023 in the ICE District area, and then the duo opened Keswick in 2024.

“We wanted to bring some energy and flair to the culinary scene, the restaurant scene in Edmonton. So for us, the inspiration is we’re very Latin influenced. We take different ingredients and essentially menu concepts from different Latin cultures, so Spanish, Peruvian, Mexican, Dominican, our chef is actually Dominican as well,” explained Maleki. “That way we can have more of a range of different Latin menu items.

“It’s been really great in the sense that Edmonton’s been really receptive to it. And I feel we’ve been lucky. Real estate’s been great in terms of where we’re located. We’re very personally and very community focused. I feel like we have a pretty dynamic network and we’re people’s people, so it’s nice to actually be in a lot of the communities that we’re in because we can actually build and foster those relationships with the people that live or work in the area.

“In terms of opening in a post-COVID world, you definitely have to be a lot more hands-on as a business owner and a restaurateur. You definitely have always had to be hands-on, but I’d say really like when they say, “Oh, you got to be in and in front and behind your business,” you really do. You should be like 360 involved to ensure that not only are operations really great, but just like even behind the scenes, you’ve got to be a lot more dialed in.”

As restaurant owners, the two have experienced the rise in costs.

“We’re very consumer focused. So to keep things very competitively priced and affordable, we have to be a lot more involved and really on it,” she added.

“We’ve opened one every year for the last three years. Our focus for the next 12 months is stabilize. Develop the team, because you can only grow as far as your team. Develop some managers, some regionals. Then we’re going expand into either more in the Edmonton market or the Calgary market,” said Wiredu.

Maleki said the Edmonton food scene has improved significantly.

“If you were to go back even 10, 15 years, a lot of the smaller independent restaurants weren’t making it. People would go once and then they’d go back to the restaurants that they were very comfortable with, like the big chains. Earl’s, Joey’s were definitely just staples. That’s where everybody went.

“What’s changed a lot and what we’re really proud to see in Edmonton is there’s a lot more people taking a risk and putting their passion and money on the line and opening more restaurants. Our food scene’s excellent.

“It’s changed a lot in the sense that people have really navigated from comfort and commercial, and these big corporate companies, to really finding their local spot. And you’re finding that people are dining out in more areas than they were.”

Wiredu said it’s been challenging as a restaurant owner these days with inflation.

“And one of the reasons why we went with the Latin approach is that a lot of Latin ingredients are pretty approachable and affordable. You’re able to build a lot more value into your meals. With our seafood dishes and a lot of our tapas, they’re all shareables,” he said. “You’re getting a lot more value for it.”

Like all businesses, the current tariff situation is creating confusion and anxiety.

“It’s like run a 100-metre race that’s also a marathon with like different turns every two seconds. We’re definitely navigating things and we kind of take it day by day. We’re making sure we have a Plan A, B, C, D.

“Everyone’s going through a challenging time. So we make sure when our guests come in our prices are approachable and affordable.”

SKIMS acquires SKKN by Kim from Kim Kardashian and COTY

By

Mario Toneguzzi

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March 25, 2025

SKIMS, the lifestyle company co-founded by Kim Kardashian and Jens Grede, has acquired SKKN by Kim from Kim Kardashian and COTY, bringing her beauty NIL rights and ventures under the SKIMS brand.

This bold move marks a pivotal expansion for SKIMS, expanding its portfolio beyond apparel, said the company in a news release.

“Since its 2019 debut, SKIMS has redefined inclusivity and innovation, delivering solutions for every body—spanning shapewear, intimates, loungewear, swimwear, pajamas, and the recently announced NikeSKIMS activewear partnership with Nike. Now, by acquiring Kardashian’s majority stake and Coty’s minority stake in SKKN by Kim, SKIMS consolidates Kardashian’s lifestyle portfolio, integrating her expertise in cosmetics, skincare, and fragrance into its ecosystem,” it said.

The company said Kardashian’s beauty legacy is undeniable. Her 2017 launch of KKW Beauty sparked a contouring revolution, while KKW Fragrance won “Fragrance of the Year” at the 2020 FiFi Awards. SKKN by Kim further elevated her influence, blending minimalist luxury with science-driven skincare.

“My mission has always been to create products that resonate deeply—whether it’s shapewear and lingerie that empowers or make-up and skincare that transforms,” said Kardashian, SKIMS Chief Creative Officer and Co-Founder. “Uniting everything under the SKIMS brand streamlines that vision.”

“This acquisition isn’t just growth,” said Grede. “It’s about the strength of our brand and our ability to enter a new category with authority.”

Through this acquisition, SKIMS will open its doors to expand into beauty, skincare, and fragrance, leveraging Kardashian’s proven expertise to redefine these categories with SKIMS global and retail DTC footprint. With plans to start launching in 2026, SKIMS is poised to reshape the beauty and fragrance industry as it has apparel—details forthcoming, added the company.

ABOUT SKIMS

Co-founded in 2019 by Kim Kardashian and Jens Grede, SKIMS is creating the next generation of Women’s underwear, loungewear, and shapewear and setting new standards by providing solutions for every body. From technically constructed shapewear that enhances your curves to underwear that stretches to twice its size, the brand’s goal is to consistently innovate on the past and advance the industry forward. SKIMS sells directly through SKIMS.com, permanent store locations in Georgetown, Aventura, Austin, Houston, Atlanta, New York and select retailers globally listed here.

Canadian Retail News From Around The Web For March 25, 2025

By

Retail Insider

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March 24, 2025

News at a Glance

Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.

Re: Hudson’s Bay:

Canadian clothiers sad to see Bay’s decline but say they long ago adjusted to new era (CityNews)

Hudson’s Bay closures ‘leave a hole in our psyche’, retail expert says (Global)

‘The loading dock was full’: Brands pull products from Hudson’s Bay amid liquidation (CityNews)

More Than Stores: The Historic Architecture and Lasting Legacy of Hudson’s Bay Buildings (Storeys)

B.C. shoppers confused, disappointed by delayed start of the Bay liquidation sale (CTV)

As Hudson’s Bay prepares to close most stores, shoppers chase its iconic striped blankets (Montreal Gazette)

Plenty of shoppers still waiting for liquidation deals at Vancouver’s Hudson’s Bay (Vancouver Sun)

Other News:

These new made-in-Canada apps and websites are helping people buy Canadian (Globe & Mail)

Opinion | Why the secret to unlocking Toronto’s retail future might be learning to go up and down stairs (Toronto Star)

Loblaw expanding body-worn camera pilot to Ontario (CTV)

Regina liquor store surprised as Sask. removes select Canadian-brewed beer from shelves (SaskToday)

Tariff war creating maze of costs for pinball business in Montreal (CTV)

Oakridge Calgary Co-op to celebrate grand opening on March 27 (Grocery Business)

Denninger’s closing Oakville store (Grocery Business)

Hudson’s Bay Bankruptcy Devastates Retail Workforce

By

Craig Patterson

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March 24, 2025

VictoriaBay — Hudson's Bay 5-level store in downtown Victoria, BC. The store is one of 74 starting liquidation on Monday (March 24). Photo: Apple Maps

In a major development that marks the end of an era in Canadian retail, The Hudson’s Bay Company (HBC) has filed for bankruptcy protection. Beginning Monday, liquidation sales commence at 74 Hudson’s Bay department stores across Canada, with only six locations set to remain open—including three in Ontario and three in Quebec.

The restructuring also impacts HBC’s licensed luxury banners in Canada, with two of the three Saks Fifth Avenue stores—at CF Chinook Centre in Calgary and CF Sherway Gardens in Toronto—also slated for liquidation, alongside all 13 Canadian Saks OFF 5TH stores.

While the news had been rumoured for weeks, the scale of the fallout has shocked observers and devastated staff. Retail employment expert Suzanne Sears, President of Best Retail Careers International, said the human toll of the shutdown is far-reaching.

“Roughly 10,000 people are directly employed by HBC, but when you include contractors and staff from brand shop-in-shops—cosmetics, jewelry, fashion—the number rises closer to 15,000,” said Sears in an interview. “Many of these individuals are career Bay employees. Some have been with the company for 30, 40, even 50 years.”

Devastation on the Sales Floor

Sears visited several stores in Ontario over the past week, including Mapleview in Burlington, Oakville Place, and CF Lime Ridge Mall in Hamilton. She described emotional scenes of employees clinging to hope.

“Staff were hugging each other and crying. They’re devastated,” she said. “These are not just casual jobs—these are people who gave their lives to this company.”

Despite heavy foot traffic amid the sales, she noted an eerie atmosphere in stores.

“All the escalators were turned off. Even elevators weren’t working in some locations. You have to leave the store and use the mall escalators just to change floors,” she said.

Sears was also surprised by the quality of certain departments.

“The men’s departments were immaculate, especially at Mapleview. Beautifully merchandised and stocked—it’s ironic to see that just before liquidation.”

Liquidators Move In, Inventory Stripped

Sears confirmed that external liquidation firms have already taken control, with some cosmetic and perfume counters cleared out and jewelry cases emptied.

“Most luxury beauty brands have pulled their inventory already. You’re seeing empty displays and discount racks resembling Winners stores—chaotic, messy, and picked over,” she explained.

Several international liquidation specialists are reportedly preparing to ship in additional inventory to keep stores stocked throughout the sales.

Luxury women’s department ‘The Room’ on the third floor of the Queen St. Hudson’s Bay store. Creative Director Nicholas Mellamphy re-joined The Room in February of 2024 and led a remarkable revival that will be halted with HBC’s bankruptcy. Photo: Craig Patterson

Employment Fallout and the Bigger Picture

The job losses are not only significant in scale but pose a challenge for the Canadian job market. Sears questioned how the industry would absorb so many displaced professionals.

“There are very few companies left in Canada that can take on full teams of inventory specialists, planners, senior buyers, and regional managers,” said Sears. “These were not just cashiers—these were experts in their fields.”

She warned that older employees in particular will struggle.

“Where do you place someone in their late 50s who’s only ever worked at HBC? Retail was once considered a career. This erodes that notion completely.”

While Sears expects some staff—especially those in luxury sales or specialized departments like men’s tailored clothing—to find work elsewhere, the broader picture is grim.

“People from the Olson shop, men’s suiting, or high-end cosmetics counters will land on their feet. But general merchandise staff? They’re facing limited opportunities,” she said.

Lack of Communication and Support Raises Alarm

Sears was critical of the company’s internal communication with staff, many of whom reportedly had no idea if they were scheduled for shifts beyond this week.

“HBC should have communicated clearly with every employee about their status, exit strategy options, and mental health resources. Leaving people in the dark is unconscionable,” she said.

She also questioned whether employees will receive severance or termination pay.

“In most bankruptcies, staff simply lose out. There’s no union protection for most HBC employees. They’ll be the last to be considered when creditors get paid.”

Hudson’s Bay Queen Street. Photo: Craig Patterson

Retail Careers in Question

Sears didn’t mince words when asked about the long-term prospects for retail workers in Canada.

“This is a death blow to retail as a career. Department stores once offered long-term, well-paid jobs. That era is gone,” she said. “Unless you’re with a luxury European brand—which tend to treat staff better—it’s no longer a viable path.”

She cited La Maison Simons as a Canadian brand that may thrive in the wake of HBC’s collapse.

“Simons is very Canadian, very loyal to its people. They’ll benefit from this, as consumers and workers alike seek alternatives,” she noted.

She also noted the strengths of luxury multi-brand retailer Holt Renfrew, the last of its kind in Canada as Saks prepares to exit the country.

The American Ownership Question

Sears placed much of the blame on HBC Governor Richard Baker and the American private equity model behind the company’s strategy.

“This is Sears Canada all over again. The company was stripped for parts by American interests,” she said. “There needs to be government oversight to prevent these leveraged buyouts from destroying Canadian institutions.”

She pointed to the broader trend of American ownership hollowing out Canadian retail—not just in stores, but also in media and e-commerce infrastructure.

“If we’re going to allow foreign firms to run our largest employers, we need conditions: Canadian head offices, Canadian decision-making, and Canadian employment guarantees,” she insisted.

What Happens Next for Workers?

Sears advised displaced employees to invest in professional resume help and job coaching, especially given the shift toward AI-driven recruitment systems.

“Many of these workers haven’t applied for a job in decades. They were promoted or poached. Now they need to learn to compete in a completely different job market,” she explained.

For those who remain at the six Hudson’s Bay stores still operating, the future remains uncertain. Sears noted that liquidation sales could extend into late spring or early summer, depending on how quickly merchandise sells through.

“Some staff will be rehired on short-term contracts to support these sales, but full-time roles are disappearing fast,” she said.

Final Thoughts: A Canadian Institution in Crisis

The demise of Hudson’s Bay’s full retail footprint is more than a financial collapse—it’s a cultural reckoning.

“This isn’t just about stores closing,” Sears emphasized. “It’s about the loss of a trusted brand, of careers, of stability, and of faith in the system.”

She called on provincial and federal governments, as well as industry organizations like the Retail Council of Canada, to do more.

“Retail is the largest private-sector employer in the country. Yet when crises hit, workers are abandoned. This has to change.”

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Odd Burger halts U.S. expansion plans

By

Mario Toneguzzi

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March 24, 2025

Odd Burger Corporation, a leading vegan fast-food restaurant chain and food technology company, announced Monday that its U.S. expansion plans are being halted amid escalating political tensions between Canada and the U.S.

On March 10, the company announced a strategy to deal with tariffs and raise capital to invest in its U.S. expansion, however, those expansion initiatives and investment plans are not moving forward at this time. Instead, the company plans on using the capital to invest in its Canadian manufacturing and franchise operations, it said in a news release.

“Given the global tariff uncertainty, we are putting the brakes on our U.S. expansion until pricing metrics can be formulated with certainty,” said James McInnes CEO and Co-Founder of Odd Burger.

“We are also seeing increased demand for our products in Canada, and as a Canadian Company, we want to make sure that we focus on our core market at this time.”

Odd Burger operates its own manufacturing facility in London, Ontario where it produces over 20 plant-based proteins and dairy-free sauces under the brand Preposterous Foods, using primarily Canadian sourced and grown ingredients.

The company’s food service product line is available for purchase at Sysco distribution centres across Canada.

“In anticipation of price increases with U.S tariffs set to commence April 2, 2025, the Company believes it can help other Canadian companies transition to plant-based products made in Canada and sees a significant growth opportunity in supporting the Canadian market,” it said.

Look For The Leaf Campaign Rallies Canadian Brands

By

Craig Patterson

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March 24, 2025

MLF_Posters — Look for the Leaf marketing at Union Station in Toronto. Photo: Maple Leaf Foods

As economic uncertainty and the looming threat of tariffs stir concern among consumers, Maple Leaf Foods has launched a unique campaign urging Canadians to look local — not just in principle, but in practice. Rather than solely spotlighting its own products, Maple Leaf Foods is highlighting more than 15 fellow Canadian brands in a rallying call for unity and collective support.

The new campaign, titled “Look For The Leaf,” takes its name not just from Maple Leaf Foods’ own packaging, but from the Canadian maple leaf symbol found across many homegrown products. The initiative encourages Canadians to choose items that proudly carry the leaf, a signifier of their national roots.

“These are unprecedented times in Canada,” says D’Arcy Finley, Vice President of Brands at Maple Leaf Foods. “We felt it was time to do something bigger than just reminding people of our own Canadian heritage.”

A Campaign Born From Collaboration, Not Competition

Developed in partnership with creative agency No Fixed Address, the campaign is a distinct departure from more divisive “us vs. them” narratives seen in previous Buy Canadian movements. Instead, it embraces a spirit of unity.

“As shoppers, we’re also just citizens who want to do the right thing,” explains Jamie Marcovich, Executive Creative Director of the campaign. “Not everyone knows which products are truly Canadian. It can be confusing. This was about making it simpler — and about helping Canadians shop with intention.”

Among the featured brands in the campaign are well-known names like Dare, Chapman’s, Gay Lea, Neal Brothers, Clearly Canadian, Kawartha Dairy, Made Good, High Liner Foods, and Schneiders, among others.

The campaign is rolling out nationally through out-of-home advertising, social media, and a dedicated microsite, lookfortheleaf.ca, where Canadians can discover which brands are part of the initiative.

How Brands Were Selected: A Mix of Heart and Pragmatism

According to Finley, the original list of participating brands came together quickly — and practically. “It’s complicated for everyone right now,” he says. “What’s Canadian-owned? What’s Canadian-operated? Where do the profits go? We started with brands we already had relationships with and could move quickly with.”

Yet what began as a core group has since grown into something much larger.

“We are getting inundated with requests for a second round,” Finley reveals. “Other companies have been reaching out, wanting to participate. That’s been incredibly exciting.”

The Emotional Impact: ‘This Brought Me to Tears’

While the campaign has only just launched, the response has already been deeply emotional — especially for Finley, who says he’s heard from people across the industry moved by the gesture.

“In my career, it’s very rare that people reach out to say something brought them to tears,” Finley says. “But I’ve had that three times already with this campaign. It’s clear that people are craving unity right now.”

That sentiment is echoed by Marcovich: “People didn’t even know they were craving something like this. It’s a rallying point for Canadians — not to punch back, but to rise up together.”

Look for the Leaf marketing at Union Station in Toronto. Photo: Maple Leaf Foods

Grocers Respond with Enthusiasm

Although the campaign isn’t being directly activated in-store — at least not yet — grocers and retailers across the country are embracing the message.

“We’ve had overwhelming applause from our partners,” says Finley. “It aligns with the broader conversations we’ve been having with retailers, and we’re hearing a lot of praise for doing the right thing.”

Look for the Leaf marketing. Photo: Maple Leaf Foods

Not a Moment — A Movement

While some might see this surge in Canadian consumer pride as a fleeting reaction to trade uncertainty, both Finley and Marcovich believe the shift is here to stay.

“This doesn’t feel like a blip,” Marcovich says. “Even if the tariffs never happen, something has been ignited that isn’t going out.”

Finley agrees: “I’ll stake my reputation on it — this will persist for at least four years, and likely longer. We’re witnessing the start of something much bigger.”

He adds that, until recently, ‘Canadian-raised’ and ‘Canadian-made’ weren’t consistently top motivators for shoppers. “But that’s about to change. People want to support local now more than ever.”

A Campaign Rooted in Values, Not Ego

What sets “Look For The Leaf” apart is its selfless stance — a brand using its voice to amplify others. “We’re proud to play a role in service of something bigger,” Finley says. “It’s not about ego; it’s about creating a movement.”

The team deliberately avoided reactionary tactics. “There was pressure to respond quickly and take centre stage,” Finley recalls. “But we paused. We took a breath. And we came back with something constructive.”

Marcovich likens it to the “24-hour rule” used by hockey parents. “You step away, think about it, then respond with purpose. That’s what we did.”

Looking Ahead: More Leaves to Come

With growing interest from Canadian brands eager to join, a second phase of the campaign seems all but inevitable.

“We’ve already created space on the microsite for new partners to reach out,” Marcovich says. “This campaign has the power to grow organically.”

Whether driven by tariffs or a long-overdue sense of national pride, the movement is clearly resonating.

“It’s a time for us to come together,” Finley concludes. “And if this campaign helps Canadians make choices that support our economy, our communities, and each other, then we’ve done our job.”

Brands Participating in ‘Look For The Leaf’ So Far

Chapman’s
Clearly Canadian
Covered Bridge
Dare Foods
Fantino & Mondello®
Gay Lea
Greenfield Natural Meat Co®
High Liner Foods
Kawartha Dairy
Lunchmate™
Made Good
Mina® Halal
Neal Brothers
Organic Meadow
Schneiders®
Summer Fresh

More from Retail Insider:

Maison Territo Opens Luxury Furniture Store at Royalmount

By

Craig Patterson

-

March 24, 2025

image - 2025-03-23T232006.908 — Maison Territo at Royalmount in Montreal. Photo credit: Phil Bernard

Maison Territo has officially opened its doors at the highly anticipated Royalmount development in Montreal, bringing an elevated and fashion-forward approach to luxury home furnishings. The 11,000-square-foot store marks a significant expansion for the family-run business behind Casa Vogue, which has served Quebec’s design community for over five decades.

“It’s a project we have at heart,” said David Territo, Co-Founder and CEO of Maison Territo. “This new store is about continuing our family legacy and offering something entirely new and exclusive to the Quebec market.”

A Family Legacy Reinvented

The new store, Maison Territo by Casa Vogue, is the evolution of a business that started in the early 1970s with David’s father as a furniture maker. The family gradually transitioned into high-end retail, with Casa Vogue becoming a trendsetting destination for luxury furniture.

“We’ve always travelled the world—Milan, High Point, wherever we need to go—to stay ahead of trends,” said Territo. “Now, we’re introducing pieces that have never been available in Canada.”

Maison Territo represents a strategic expansion of the brand. Casa Vogue’s original store will remain open and is set to undergo renovations next year to further elevate the brand. “This isn’t a replacement. It’s an addition—and an exciting new chapter,” said Territo.

Versace Home at Maison Territo at Royalmount. Photo credit: Phil Bernard

An Exclusive Brand Experience

The new store is unlike anything else in the province. Designed by Montreal’s blanchette archi.design, the store is divided into four immersive brand zones—each dedicated to a luxury fashion house with its own home collection. These include Fendi Casa, Versace Home, Dolce & Gabbana Casa, and Bentley Home.

“When you walk into the Fendi section, you’ll feel like you’re inside a Fendi store,” said Territo. “The same goes for the other brands. Each space is designed to fully reflect the identity of the collection.”

Territo explained that each brand zone is built with intention and detail, offering a full range of furnishings—from living room and bedroom sets to fine tableware, accessories, and lighting. “We even have a mattress collection made in Italy using Loro Piana fabrics,” he added.

All four brands are exclusive to Maison Territo in Quebec.

Kitchen display at Maison Territo at Royalmount. Photo credit: Phil Bernard

A Design Destination at Royalmount

Maison Territo is located on the exterior portion of the newly opened Royalmount development, a premium retail and lifestyle destination in Montreal. The exterior-facing location places it near the skating rink and event spaces, offering easy access and strong visibility.

“The idea was to be among other luxury brands and restaurants in a location that caters to high-end clients,” said Territo. “It’s a destination for people who appreciate quality and design.”

The 11,000-square-foot showroom is large enough to accommodate the different brand zones while maintaining an open and elegant flow. “It’s four stores in one,” Territo noted. “Each one delivers a completely immersive brand experience.”

Dolce&Gabbana Casa at Maison Territo at Royalmount. Photo credit: Phil Bernard

Design That Reflects Heritage and Innovation

Maison Territo’s storefront features modern stainless steel arches—a contemporary nod to the Italian architectural influences found in the original Casa Vogue store.

“The arches represent our Italian heritage,” explained Territo. “We modernized them using stainless steel to create a fresh, architectural language that connects past and present.”

Inside, design continues to play a central role. The Dolce & Gabbana Casa section is wrapped in black to make the brand’s colourful pieces pop. A 17-foot bar greets visitors near the entrance, designed as a gathering point for events and daily hospitality.

“We’ll offer espresso, champagne, and host design events,” said Territo. “And above the bar, we’re showcasing a handmade lighting fixture from Quebec-based La Rose Gouillon—it’s stunning.”

Fendi Casa at Maison Territo at Royalmount. Photo credit: Phil Bernard

More Than Retail: A Concierge Experience

Maison Territo is more than just a store—it’s a full-service experience tailored to discerning homeowners, interior designers, and architects. The team offers bespoke concierge services and white-glove delivery across Canada.

“It’s not just about selling a product. It’s about guiding clients through a personalized journey,” said Territo. “From selecting a single standout piece to designing an entire home, we work closely with each client.”

The team also works closely with architects who are designing high-end residences. “They often build a room’s design around a single signature piece. That’s where we come in,” he said.

Responding to Montreal’s Evolving Design Market

Territo believes that the timing is right for this type of store in Montreal, as many affluent clients previously shopped abroad for exclusive pieces.

“Montrealers who love luxury brands often go to Miami, New York, or Paris to find these products,” he said. “Now, they can find them here—local, exclusive, and curated.”

He also noted a cultural shift in the way people shop for furniture. “People are moving away from fast furniture,” he explained. “They want pieces with meaning, that can be passed down. A dining table isn’t just furniture—it holds memories.”

Looking Ahead

When asked about the potential for future expansion, Territo said the focus right now is on making the Royalmount location a success—but he didn’t rule out growth.

“We didn’t necessarily plan for a second location,” he said. “But now that it’s open, I’d love to take this brand and push it forward.”

More from Retail Insider:

Canadian Retail News From Around The Web For March 24, 2025

By

Retail Insider

-

March 23, 2025

News at a Glance

Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 2 days.

Re: Hudson’s Bay:

Hudson’s Bay striped blanket becomes hottest collector’s item before store closures (Streets of Toronto)

Jamie Bradburn: The demise of Hudson’s Bay was written all over the company’s flagship Toronto store (Toronto Star)

The legacy of Hudson’s Bay will survive in thrift shops long after the company is dead and gone (Toronto Star)

‘My plan was to retire there’: As Hudson’s Bay begins liquidation Monday, thousands of employees brace for a massive wave of layoffs (Toronto Star)

I worked at the Bay years ago, and still remember the magic and thrill of the department store (Globe & Mail)

From fur trading post to retail store, Hudson’s Bay Company has played an instrumental role in Kamloops history (Castanet)

‘End of an era’: Ahead of store’s closure, Calgary shoppers seek sales, mementos at The Bay (Calgary Herald)

Union head representing Windsor’s Hudson’s Bay workers calls liquidation decision ‘very sad’ (CKLW)

Other Retail News:

Gen Z consumers say Buy Canadian movement is unaffordable (Globe & Mail)

Fishing for Canadian seafood at the grocery store? Labels may not tell the whole story (CBC)