Hudson’s Bay Co. will permanently close its central Toronto location on May 31. First opened in 1974, the site served as Toronto’s flagship Bay store until 1991 when HBC acquired Simpsons and rebranded the former chain’s Queen Street location (pictured here).
The news comes amid a time of change for the intersection of Yonge and Bloor, the gateway to downtown Toronto. Across the street, construction of The One is underway on the site of the former Stollery’s men’s wear store. The retail, hotel, and residential skyscraper, anchored by the Apple Store, will displace First Canadian Place as the country’s tallest building.
HBC announced in the fall of 2020 a strategy to redevelop some of its properties for mixed-use. In the spring of 2021, it unveiled plans to downsize its downtown Montreal store, converting most of the building into office space.