HBC Considering Options for Downtown Winnipeg Building

TORONTO & NEW YORK--(BUSINESS WIRE)--HBC is exploring options for the Downtown Winnipeg Hudson’s Bay building, and has received interest from a number of stakeholders about the future use of the location.

“We believe there is value in this building, and we are in active discussions with strong organizations on its potential future,” said Ian Putnam, President and CEO, HBC Properties and Investments. “We remain committed to working with partners to find opportunities for this location that will have a positive impact on the community.”

The Winnipeg building is located in the heart of the city’s downtown core, and is a long-established landmark for many Winnipeggers and visitors. Built in 1923, it was one of the original six Hudson’s Bay department stores. The city remains an important market for Hudson’s Bay and it continues to serve Winnipeggers at its Polo Park and St. Vital locations and through thebay.com.

About HBC

HBC is a holding company of investments and businesses at the intersection of technology, retail operations and real estate.

It is the majority owner of iconic ecommerce companies: Saks, a leading online destination for luxury fashion, and Saks OFF 5TH, a premier luxury off-price ecommerce company offering top brands at the best prices. Both businesses were established as separate operating companies in 2021.

HBC also wholly owns Hudson’s Bay, Canada’s preeminent multi-category retailer, as well as SFA, the entity that operates Saks Fifth Avenue’s physical locations, and O5, the operating company for Saks OFF 5TH stores.

With assets spanning top markets and prime locations across North America, HBC owns or controls—either entirely or with joint venture partners—approximately 40 million square feet of gross leasable area. HBC Properties and Investments, the company’s real estate and investments portfolio business, manages these assets along with additional real estate offerings, including Streetworks Development, its property development division.

Founded in 1670, HBC is North America’s longest continually operating company and is headquartered in New York and Toronto. For more information visit: www.hbc.com.