Many departments at the downtown Vancouver Hudson’s Bay flagship store are practically deserted, and with the elevators and escalators temporarily out of service, frustrated shoppers are forced to take the stairs between seven floors.
But one section of the store was teeming with shoppers on Tuesday.
Blankets and other bedding with the iconic Hudson’s Bay stripes have been flying off the shelves since the Bay announced it is filing for bankruptcy and looking to liquidate inventory and close most, or all, of its department stores.
Judy Vicic was one of the many customers buying multiple blankets for herself and family members on Tuesday.
“I’m a Hudson’s Bay lover. I love the Bay, and I’m very sad it’s going to be gone, but I had to have a bit of nostalgia from it,” said Vicic.
Not everyone who is buying the blankets is feeling nostalgic, however. Some are looking to cash in, listing the larger blankets for thousands of dollars on eBay.
“As an icon for Canada, I think anything that’s got the symbolism of the Hudson’s Bay colours and stripes is going to be in very high demand,” said Vancouver retail analyst David Ian Gray.
The Bay’s imminent closure is driving that demand, and so is the renewed sense of patriotism many Canadians are feeling right now, said Gray.
“The symbolism means more today than it might have a year ago,” he said.
And yet, being an iconic Canadian brand wasn’t enough to save the traditional department store.
“The Bay fundamentally would have to have changed its core to be relevant for the future, and it just hasn’t changed the basic concept since the heyday of the 1980s,” said Gray.
Shoppers are now awaiting details of the storewide liquidation, and hoping for some deep discounts.
“As much as we are sad about it, we are all going to assume there are deals,” said Gray, adding that people should, however, temper their expectations.
“The initial liquidation will try not to go too deep, too fast. They want to get as much money as possible.”
There is still hope the Bay can exist in some form.
“I heard about 20 or more (stores) were profitable as of last summer. So there’s something to be held there. But ultimately, is there enough to do a rebirth that thrives, and not just string it out for another few years? That’s really the fundamental challenge,” said Gray.
“I’m hoping someone will take over the brand maybe. Fingers crossed, but we don’t know,” said Vicic, who said she was glad she picked up some iconic striped blankets before they are all gone.
“It means The Bay,” she said. “It signifies The Bay forever.”
