Target Canada Liquidations Wrapping Up

by Harry Sheff

TargetTarget Canada Co. says its headquarters and three distribution centers have shut down and the liquidation and closing of its 133 stores will be finished on April 12.

“We are pleased with the results of the liquidation sales to date and the speed at which we have moved through the wind-down process,” said Target Canada CEO Aaron Alt. “We want to once again thank all Target Canada team members for their hard work and great adaptability through this process. The court-approved real estate sales process is underway and is expected to be completed by the end of June 2015.”

Target announced on January 15 this year that it would exit its short-lived Canadian operations. The U.S.-based discount retailer decided to make the move north in 2011 with a $2 billion deal to take over the leases of more than 200 Zeller’s stores in Canada.