The Globe and Mail reports in its Thursday edition that Hudson's Bay Co. is seeking to change its historic name following the closure of all its department stores in Canada. The Globe's Susan Krashinsky Robertson writes that it will return to court next Monday for approval to rename its corporate entities as part of a $30-million deal to sell its intellectual property to Canadian Tire. This name change must occur within 45 days of the transaction closing, and while court documents do not disclose the new name, it must not be confused with "Hudson's Bay Company," "Hudson's Bay," or "HBC" or any other variations on the Bay name. The move is likely intended to protect the value of the Bay's brands, which Canadian Tire is hoping to maximize. The retailer has not yet specified its plans for the intellectual property but could sell merchandise in its stores branded with the Bay name or its iconic stripe design. If it receives court approval, Hudson's Bay will file articles of amendment to change its corporate names, including the name that will be used in further court proceedings as it winds down its business. By the time Canada's oldest retailer ceases to exist in any form, it will no longer be called Hudson's Bay.