Target is closing all its Canadian stores
In a shocking but not altogether surprising move, Target announced this morning that it will be shutting down its entire Canadian operation. After two years of well-documented struggles north of the border, the brand’s 133 stores are expected to close permanently in coming weeks. According to a press release, it was a slow holiday season that sealed the deal. This means 17,600 employees are about to lose their jobs, although Target is promising at least 16 weeks’ worth of wages and benefits for almost everyone laid off during the wind-down. Says the brand’s relatively new CEO, Brian Cornell: “There is no doubt that the next several weeks will be difficult, but we will make every effort to handle our exit in an appropriate and orderly way.” With luck, customers will finally be able to snag some deals during the liquidation process.