MISSISSAUGA, Ont. — Target now expects that the liquidation of its Canadian stores will be complete only three months after it was announced, a month ahead of schedule. In a filing last week, court-appointed monitor Alvarez & Marsal said it expects “the pace of delivery of Vacate Notices by the [liquidation] agent will continue to increase over the next two weeks, such that all stores are expected to be closed to the public as early as mid-April.” It is a sign of the haste with which the retailer wants to exit Canada, but it will still have to contend with a fight over $1.9 billion in inter-company debt claimed by suppliers, who argue the firm should not have ordered “30-day goods” while it was planning to dissolve.
Target speeds up Canadian departure
Most Recent
Most Read
Home Depot to acquire another trade distributor
Thu, March 28th, 2024
Throwback Thursday: 22 years ago, Ace Canada signed UFA
Thu, March 28th, 2024
Ontario RONA affiliate expands
Wed, March 27th, 2024
Hardlines is at the National Hardware Show
Wed, March 27th, 2024
Meet our Young Retailer of the Year in our latest podcast
Wed, March 27th, 2024
Home Hardware supports Skills Canada
Wed, March 27th, 2024
Sign up for a free floor pass to DX3 in Toronto
Wed, March 27th, 2024
Canadian Tire and Petro-Can combine loyalty programs
Tue, March 26th, 2024
BeautiTone unveils exterior colour of the year
Tue, March 26th, 2024
Why Air Miles is still good for dealers: TIMBER MART's Bernie Owens
Mon, March 25th, 2024