While we’re on the topic of longevity, companies may rise and fall on various lists but perhaps a better test is how long they persist because it betokens an ability to change.
It didn’t make the headlines, but the oldest company in North American filed for bankruptcy recently: Hudson’s Bay department store chain.
Founded by two French Trappers in 1670, the company went through various reinventions and reincarnations through the centuries of trading and land development. It played a key role in the development of Canada as we know it today.
But nothing last forever. Online retail and other factors have led to a company whose sales have cratered and has nearly a billion dollar in debt.
Take in a few lessons of The Long, Complicated Legacy Behind Hudson’s Bay Company More about HBC’s bankruptcy can be found here.
