King Charles II of England grants a permanent charter to the Hudson's Bay Company to open up the fur trade in North America.
The Hudson's Bay Company (HBC; French: Compagnie de la Baie d'Hudson) is a historically Anglo-Canadian but now American-owned retail business group. A fur trading business for much of its existence, HBC now owns and operates retail stores in Canada and the United States. The company's namesake business division is Hudson's Bay, commonly referred to as The Bay (La Baie in French).After incorporation by English royal charter in 1670, the company functioned as the de facto government in parts of North America for nearly 200 years until the HBC sold the land it owned (the entire Hudson Bay drainage basin, known as Rupert's Land) to Canada in 1869 as part of the Deed of Surrender, authorized by the Rupert's Land Act 1868. At its peak, the company controlled the fur trade throughout much of the English- and later British-controlled North America. By the mid-19th century, the company evolved into a mercantile business selling a wide variety of products from furs to fine homeware in a small number of sales shops (as opposed to trading posts) across Canada. These shops were the first step towards the department stores the company owns today.In 2006, an American businessman, Jerry Zucker, bought HBC for US$1.1 billion. In 2008, HBC was acquired by NRDC Equity Partners, which also owned the upmarket American department store Lord & Taylor. From 2008 to 2012, the HBC was run through a holding company of NRDC, Hudson's Bay Trading Company, which was dissolved in early 2012. HBC's Canadian headquarters are located in Toronto and its U.S. headquarters are in New York. The company sold most of its European operations by August 2019 and its remaining stores there, in the Netherlands, were closed by the end of 2019.
Until March 2020, the company was listed on the Toronto Stock Exchange under the symbol "HBC.TO" until Baker and a group of shareholders took the company private. HBC is, as of 2022, the majority owner of ecommerce companies Saks and Saks Off 5th, both established as separate operating companies in 2021. HBC wholly owns SFA, the entity that operates Saks Fifth Avenue's physical locations; O5, the operating company for Saks Off 5th stores; The Bay, an ecommerce marketplace and Hudsons Bay, the operating company for Hudsons Bays brick-and-mortar stores.HBC owns or controls approximately 3.7 million square metres (40 million square feet) of gross leasable real estate through its real estate and investment arm, HBC Properties and Investments, established in October 2020.
Charles II (29 May 1630 – 6 February 1685) was King of Scotland from 1649 until 1651, and King of England, Scotland and Ireland from the 1660 Restoration of the monarchy until his death in 1685.
Charles II was the eldest surviving child of Charles I of England, Scotland and Ireland and Henrietta Maria of France. After Charles I's execution at Whitehall on 30 January 1649, at the climax of the English Civil War, the Parliament of Scotland proclaimed Charles II king on 5 February 1649. But England entered the period known as the English Interregnum or the English Commonwealth, and the country was a de facto republic led by Oliver Cromwell. Cromwell defeated Charles II at the Battle of Worcester on 3 September 1651, and Charles fled to mainland Europe. Cromwell became virtual dictator of England, Scotland and Ireland. Charles spent the next nine years in exile in France, the Dutch Republic and the Spanish Netherlands. The political crisis that followed Cromwell's death in 1658 resulted in the restoration of the monarchy, and Charles was invited to return to Britain. On 29 May 1660, his 30th birthday, he was received in London to public acclaim. After 1660, all legal documents stating a regnal year did so as if he had succeeded his father as king in 1649.
Charles's English parliament enacted laws known as the Clarendon Code, designed to shore up the position of the re-established Church of England. Charles acquiesced to the Clarendon Code even though he favoured a policy of religious tolerance. The major foreign policy issue of his early reign was the Second Anglo-Dutch War. In 1670, he entered into the Treaty of Dover, an alliance with his cousin King Louis XIV of France. Louis agreed to aid him in the Third Anglo-Dutch War and pay him a pension, and Charles secretly promised to convert to Catholicism at an unspecified future date. Charles attempted to introduce religious freedom for Catholics and Protestant dissenters with his 1672 Royal Declaration of Indulgence, but the English Parliament forced him to withdraw it. In 1679, Titus Oates's revelations of a supposed Popish Plot sparked the Exclusion Crisis when it was revealed that Charles's brother and heir presumptive, James, Duke of York, had become a Roman Catholic. The crisis saw the birth of the pro-exclusion Whig and anti-exclusion Tory parties. Charles sided with the Tories, and after the discovery of the Rye House Plot to murder Charles and James in 1683, some Whig leaders were executed or forced into exile. Charles dissolved the English Parliament in 1681 and ruled alone until his death in 1685. He was allegedly received into the Catholic Church on his deathbed.
Traditionally considered one of the most popular English kings, Charles is known as the Merry Monarch, a reference to the liveliness and hedonism of his court. He acknowledged at least 12 illegitimate children by various mistresses, but left no legitimate children and was succeeded by his brother, James.