AUDIO: Target to pull out of Canada, close its 133 locations
Posted Jan 15, 2015 08:45:14 AM.
This article is more than 5 years old.
TORONTO – Target says it will discontinue operating stores in Canada _ a market that it entered only two years ago.
The U.S. based retail company currently has 133 Canadian locations and 17,600 employees across the country.
The company says the stores will remain open during a court-supervised liquidation period and it’s working to ensure surplus employees are paid at least 16 weeks of severance.
AUDIO – 570’s Chris Pope broke the story to many shoppers at the Waterloo Target store
AUDIO – Cambridge Chamber President and CEO, Greg Durocher chats with 570’s Casey MacDonald
Target says it will also work with an advisor to sell its real estate.
Target Canada has struggled from the start and there has been speculation in business circles that its days were numbered.
