The Canadian government has approved the takeover of homegrown department-store giant Hudson’s Bay Co. by a U.S. investor.

…

HBC lost more than $50 million in the most recent quarter, and sales have continued to fall as shoppers flock to cheaper big-box alternatives like Wal-Mart.

Hudson’s Bay Co., founded in 1670, is Canada’s oldest company and largest department-store chain with 550 stores, including the Bay, Zellers and Home Outfitters. It has 70,000 employees. — CBC

It’s the end of The Bay as we know it… and I feel fine.

I’ve never really understood the great attraction the Hudson’s Bay Company has held for Canadian patriots. The Bay’s been grinding towards oblivion throughout most of my adult life. In fact, rather than represent Canada’s proud heritage, the 400 year old company seems more like a tired anachronism than a proud symbol of Canadiana.

Granted, I suppose Canadiana in general seems quite insignificant if you’ve ever visited a country that does not derive most of its identity from cheeky beer ads.