THUNDER BAY — A local business owner was caught off guard by the recent bankruptcy filing of the Hudson’s Bay Company (HBC), which plans to liquidate and close most of its stores nationwide.
Jason Thompson, owner of Warrior Office Supplies, now faces approximately $80,000 in unpaid invoices from HBC. The debt stems from a single transaction in which his company supplied printer paper, or thermal rolls, for HBC’s debit and credit machines.
“We operate multiple businesses, but the one directly impacted by HBC’s bankruptcy is our office supply business,” said Thompson, who is also the president and CEO of Superior Strategies Inc., the parent company of Warrior Office Supplies.
Superior Strategies Inc. serves as a dealer and distributor for Hamster of Expo, Canada’s largest office supply company, catering to clients at local, provincial, and national levels.
Thompson explained that he had to pay in full upfront to secure the product before shipping it to various HBC locations.
“I had to dip into my personal savings to cover the cost of the order before it even left the warehouse,” he said.
Initially, Thompson viewed the deal as a promising opportunity.
“We negotiated payment terms and moved forward with the transaction under the expectation that we would be paid,” he said. “That never happened.”
The situation has left him frustrated and disheartened.
“It’s beyond me how a company could do this,” he said. “This isn’t just a business loss; it’s jeopardizing my livelihood and my dreams.”
Thompson believes HBC’s financial instability was already apparent to those handling the transaction but was not disclosed to him.
“I assume they had an idea of their financial troubles but had no concern about the impact on a small Indigenous business,” he said. “It feels like they reached into my pocket and took the savings I had set aside for my children’s education and my business growth, with no hesitation.”
Despite the setback, Thompson remains optimistic about his company’s future.
“We have worked hard to build a reputable brand, and business is going well,” he said. “However, like many companies, managing cash flow is always a challenge. We work with large corporations that operate on 90- to 120-day payment terms, so having capital tied up like this creates additional strain.”
Thompson now faces the added burden of borrowing funds to sustain operations.
“I have to go to the bank, which means incurring additional costs,” he said. “This situation has made running our business even more challenging.”
While he remains hopeful for a resolution, Thompson acknowledges the uncertainty ahead.
“I hope that Hudson’s Bay and the bankruptcy handlers reach an agreement that allows outstanding invoices to be addressed,” he said.
In the meantime, he encourages community support for locally owned businesses.
“If people hear this message, I hope they choose to support a Canadian-owned, locally operated business for their office supply needs,” he said.
Despite the hardship, Thompson remains determined.
“We will recover from this,” he said. “It’s just another challenge we have to overcome as we continue to grow our business.”
