Target Canada to Close all Canadian Stores by April 12
April 01 2015 - 05:00PM
Business Wire
This morning, Target Canada Co. announced that it will complete
its inventory liquidation efforts and close the last of its 133
Canadian retail stores to the public on April 12. In addition,
Target Canada’s three distribution centres and Mississauga
headquarters have been closed. Liquidator-led fixture sales will
continue in some locations. The company has been winding down its
operations since January 15, 2015 when it obtained an Initial Order
for protection from the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act ("CCAA").
“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 CEO. “The court-approved real estate
sales process is underway and is expected to be completed by the
end of June 2015.”
Additional information regarding Target Canada’s CCAA
proceedings will continue to be available on the Monitor’s website
at www.alvarezandmarsal.com/targetcanada.
TargetMedia Contact:Molly Snyder,
612-696-3400orInvestor Contact:John Hulbert,
612-761-6627
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