Jason Thompson, owner of Superior Strategies Inc., says he is facing a significant financial hit after Hudson’s Bay Company entered creditor protection last week.
'It's a big part of the history of Canada. So I'm hoping that there will be an available plan': Jason ThompsonHudson's Bay, Canada's oldest retailer, is currently undergoing significant restructuring efforts. On March 7, 2025, the company filed for creditor protection. An Indigenous-led business in Thunder Bay, Ont. faces a significant financial hit after Hudson's Bay Company entered creditor protection last week.
The financial strain has been immense for the Indigenous-owned business, which fronted $55,000 in supplier costs to fulfill the order. Thompson says he initially saw the deal as an opportunity for growth, especially given the timing of Hudson's Bay's first outreach on Sept. 30, 2023—National Day for Truth and Reconciliation.
Jason Thompson is the owner of Superior Strategies Inc., a business that focuses on providing strategic consulting services. Under the CCAA process, companies can restructure their debts, often leaving unsecured creditors—like small businesses—receiving only a fraction of what they are owed. Some experts estimate suppliers in retail insolvencies may receive less than 20 cents on the dollar if anything at all."Earlier this year, we worked with potential investors to refinance a portion of our credit facilities to improve our liquidity and support our business plan.
During the 17th to 19th century, the Hudson's Bay Company relied heavily on Indigenous peoples for fur trading, leading to economic dependence, disruption of traditional ways of life, and the displacement of many communities. Later, the company said they are committed to reconciliation and racial equity, including a $30 million commitment over 10 years to support Indigenous communities and address the impacts of the Indian residential school system.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
One person taken to hospital following collision involving school bus in Thunder Bay, Ont.One person has been taken to the hospital as a result of a two-vehicle collision involving a school bus in Thunder Bay, Ont., Friday morning. Here's what we know about the incident so far.
Read more »
Trial set to start today for Thunder Bay, Ont., police officer charged in 2014 assaultThe first of three scheduled trials for a suspended Thunder Bay Police Service (TBPS) officer was set to begin today at the city's courthouse. The assault charge against Staff Sgt. Michael Dimini stems from an incident that allegedly occurred in northwestern Ontario city in August 2014.
Read more »
Traffic reduced after crews find source of water main leak near Thunder Bay, Ont., polling stationWork is underway near an Elections Ontario polling station for the Thunder Bay-Superior North riding after a water main break earlier this week.
Read more »
Judge dismisses 1 assault charge for Thunder Bay, Ont., police officer, but 2 trials remainThe Ontario Court of Justice has dismissed one charge of assault against a Thunder Bay police officer, though he still has two trials ahead of him for other matters. Here's the latest on the charges facing Staff Sgt. Michael Dimini.
Read more »
Lakehead University receives support for outdoor Indigenous learning space in Thunder Bay, Ont.Lakehead University in Thunder Bay, Ont., has received support to revamp its outdoor Indigenous learning space to make it more accessible for students and community members. Here's how the renovations will support the school's efforts to create a culturally-safe learning environment.
Read more »
Intimate image sharing key focus of International Women's Day event in Thunder Bay, Ont.Sharing intimate images without consent was the focus of Friday's International Women's Day flag-raising event in Thunder Bay, Ont. Here's what those involved shared in light of an ongoing cyber crime investigation in the northwestern Ontario city, as well as calls for action particularly for Indigenous women and girls.
Read more »