Target to close all Canada stores by April 12
Target will complete its inventory liquidation efforts and close the last of its 133 Canadian retail stores by April 12.
The retailer has already shut down 46 stores across Canada and will close another 32 on April 2; 18 on April 4; and 24 on April 8. The final 13 stores will close just days after that.
Target Canada’s three distribution centers and Mississauga headquarters have been closed, the company announced. The retailer has been winding down its operations since Jan. 15 when it obtained an Initial Order for Protection from the Ontario Superior Court of Justice under the Companies' Creditors Arrangement Act.
“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. We want to once again thank all Target Canada team members for their hard work and great adaptability through this process,” said Aaron Alt, Target Canada's CEO. “The court-approved real estate sales process is underway and is expected to be completed by the end of June 2015.”
The retailer is also undergoing a court-supervised sale of its leases and expects to wrap up the process by the end of June.
Target Canada has roughly 17,600 employees.