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Two of Canada’s wealthiest families are now locked in a battle over a piece of history that stretches back more than 350 years: the royal charter that created the Hudson’s Bay Company, one of the country’s most iconic institutions.

A company owned by David Thomson, one of Canada’s richest men and the chairman of a major media group, has officially filed to buy this historic charter. Thomson has proposed to spend at least $15 million, with the intention of donating the charter to the Archives of Manitoba. This move is seen as an effort to preserve the artifact for public access and historical research.

The document became available after Hudson’s Bay, facing massive debts, filed for creditor protection in March. The retailer had already closed all 80 of its stores, along with 16 other outlets under its Saks brand, as part of restructuring to manage its financial obligations. This situation also opened the door for potential buyers of Hudson’s Bay’s valuable historical items, including its 2,700 artifacts and 1,700 art pieces, some of which date back centuries.

Initially, Hudson’s Bay planned to auction off these items, including the royal charter, to generate funds for creditors, landlords, and suppliers. However, the Westons, a family best known for running Canada’s grocery empire Loblaw, made an offer to buy the charter for $12.5 million, proposing to donate it to the Canadian Museum of History in Gatineau. Their offer paused the original auction plan, as the museum option promised to preserve the document while keeping it accessible to the public.

David Thomson’s team, however, was taken by surprise. Patrick Phillips, a director at Thomson’s holding company, noted in legal filings that the Westons’ offer was significantly lower than the charter’s potential value. Thomson and his team believe that a full public auction could raise much more, benefiting Hudson’s Bay creditors. Phillips suggested in court documents that the Westons’ bid be treated as a minimum starting point in an open auction. If the court approves this, Thomson is prepared to increase his bid well beyond $15 million.

David Thomson’s Connection to Hudson’s Bay and Art

David Thomson is no stranger to the world of art and history. He is one of Canada’s most prominent art collectors, following a family legacy. His late father, Kenneth Thomson, donated more than 2,000 art pieces to public galleries and set up a $20-million annual endowment to support art preservation.

Thomson’s connection to Hudson’s Bay is personal as well. In the 1980s, he worked as a store manager at the Bay’s Cloverdale Mall location in Etobicoke, Ontario, and later became president of Simpsons Ltd., a department store acquired by Hudson’s Bay. This long-standing connection has given him a deep appreciation of the company’s history and cultural significance.

Commitment to Public Access and Indigenous Communities

Beyond simply purchasing the charter, Thomson has pledged at least $2 million to fund initiatives that allow museums and Indigenous communities to access and share the charter. The Westons had allocated $1 million for a similar purpose. Thomson has indicated that he is willing to increase funding if needed and plans to invite other wealthy Canadians to contribute to preserving the charter. This ensures that the document is not only protected but also accessible to all Canadians.

The Archives of Manitoba in Winnipeg has been selected as the ideal location for the charter. The archives already house maps dating back to 1709, diaries, letters, videos, and audio recordings from Hudson’s Bay’s history. Its proximity to Indigenous communities makes it a suitable home for a document that historically affected trade and Indigenous relations across Canada. Manitoba’s Premier, Wab Kinew, expressed strong support for Thomson’s plan, stating that the charter belongs in public hands, ensuring all Canadians can access it.

The Weston Family Proposal

On the other hand, the Weston family has suggested donating the charter to the Canadian Museum of History. The museum’s collection spans Canada’s history from early human settlement to modern times. As a Crown corporation, any donation to the museum effectively becomes public property, preserving the charter for future generations.

Galen Weston, speaking on behalf of the family, emphasized that the charter is an important artifact in Canada’s complex history. They want it preserved, shared responsibly, and made accessible, especially to communities whose histories are deeply intertwined with the Hudson’s Bay Company.

The Historic Significance of the Royal Charter

The royal charter, issued by King Charles II in 1670, granted Hudson’s Bay Company control over vast territories in Canada, along with significant trading and governance powers. This document is more than a financial or corporate artifact — it represents centuries of Canada’s colonial, economic, and Indigenous history.

Owning and preserving it is not just about money. It is a question of cultural responsibility, ethical stewardship, and ensuring Canadians can engage with their heritage. The court’s decision will determine whether the charter is auctioned openly, sold to one of the billionaire families, or preserved as a public treasure.

Why This Matters

This rivalry highlights the broader debate over ownership of historical artifacts. On one side, there is the potential for a private billionaire to fund its preservation and public sharing. On the other, there is a family offering a clear path to national museum donation. Both sides emphasize public access, but their strategies differ.

The outcome will not only affect Hudson’s Bay’s creditors but also set an example of how Canada manages, preserves, and shares its historical treasures. As the nation reflects on its past, this charter serves as a reminder of the responsibility Canadians have in protecting and honoring their history.