Court OK’s Hudson’s Bay selling trademarks, like iconic stripes, to Canadian Tire [Video]

Hudson’s Bay Co. will live on in some fashion, and what form it takes will be solely up to Canadian Tire. 

On Tuesday, the beleaguered department store got court approval to sell its intellectual property, including its iconic multicoloured stripes motif, to Canadian Tire for $30 million.

Bankrupt Hudson’s Bay Co. will use the cash to pay some of its debts before the 355-year-old retailer disappears entirely. On Sunday, the company wrapped up liquidation sales and closed its remaining 96 Bay and Saks-branded stores to the public. 

During liquidation sales, many Canadians rushed to buy items like blankets and bathrobes adorned with the classic stripes. Retail strategist David Ian Gray says Canadian Tire may invest in a line of goods bearing the stripes, but warns that if the investment is overdone, the motif might lose its lustre.

“That surge on the blankets that we saw, I think in large part …