Legislative, Regulatory & Legal

New York -- Target Corp. has received official approval from the Canadian goverment to shutter its troubled operations in Canada. The retailer said it has obtained an Initial Order from the Ontario Superior Court of Justice for creditor protection under the Companies' Creditors Arrangement Act.

The order allows Target Canada to proceed with a court-supervised wind-down of its business and authorizes the company to provide a debtor-in-possession credit facility of $175 million to finance its operations during the proceedings.

Dollar General issued a statement Thursday indicating the company is having trouble winning support from the Federal Trade Commission on a $9.1 billion bid for Family Dollar Stores.

Dollar General said it would “defend litigation” if necessary.

The statement could give new momentum to Dollar Tree's $8.5 billion cash and stock competing bid for Family Dollar. Meanwhile, two proxy investment firms have switched their recommendation for Family Dollar shareholders to accept the Dollar Tree offer, rather than the bid from Dollar General.

Atlanta – A class action lawsuit compiling more than 30 of the 44 lawsuits that have been filed against The Home Depot Inc. in relation to its 2014 data breach is scheduled to begin Friday, Jan. 16 in U.S. District Court for the Northern District of Georgia in Atlanta.

According to the Atlanta Business Chronicle, Chief Judge Thomas W. Thrash Jr. is telling attorneys for both sides to pursue a “just, speedy and inexpensive” resolution.

Washington, D.C. - The National Retail Federation (NRF) is launching United for Patent Reform, a new coalition co-chaired by NRF and Oracle and comprised of grocery, hotel, retail, restaurant and technology associations and companies. The coalition will pursue patent reform legislation aimed at curbing abuse of the patent system by “patent trolls.”

Retailers looking to replenish inventories depleted by solid holiday sales are facing a new impediment at West Coast ports.

Reuters is reporting that unions are orchestrating work slowdowns to exacerbate an already gridlocked situation at the busy port.

The Pacific Maritime Association said the region's five largest ports, including Los Angeles and Long Beach, had seen backups "approaching complete gridlock," as contentious contract talks with the dockworkers union have stalled.

Phoenix – PetSmart Inc. considered but ultimately rejected attempting to buy an unidentified, privately held pet retail chain before agreeing to an $8.7 billion sale in December 2014. In an SEC filing, PetSmart disclosed it decided against the purchase after determining there could be competitive and antitrust issues.

PetSmart also said 27 potential buyers showed interest in purchasing the company between August and October 2014, before PetSmart formally launched a bidding process.

New York -- RadioShack could receive another dose of life support. According to a report by the Wall Street Journal, Salus Capital Partners has offered to provide $500 million to RadioShack Corp. in a kind of debtor-in-possession loan used by companies to fund operations in bankruptcy.

Washington, D.C. -- President Barack Obama on Monday proposed strengthening laws against identity theft, described as a growing problem that costs billions of dollars. Part of Obama’s proffered solution is requiring notification when consumer information is hacked.