01:44 PM EDT, 06/03/2025 (MT Newswires) -- Canadian Tire (CTC-A.TO) on Tuesday received court approval for its $30 million acquisition of brands and trademarks owned by liquidating retailer Hudson's Bay, the Canadian Press reported.

The purchase gives Canadian Tire rights to the Bay name, coat of arms and the Bay's Distinctly Home brand, its Hudson North apparel line, trademarks like "Bay Days" and the Zellers catchphrase "lowest price is the law" as well as a contract with Pendleton Woolen Mills, an Oregon-based blanket and clothing maker. It will also have rights to use the Bay's stripe pattern on blankets.

The approvals came months after Canada's oldest company filed for creditor protection and days after it closed all 96 of the stores it ran under its Bay and Saks banners on Sunday, Canadian Press noted.

Canadian Tire's Class A shares were last seen down $1.22 to $172.36 on the Toronto Stock Exchange.

Price: 172.36, Change: -1.22, Percent Change: -0.70