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Target Canada Co. was a short-lived Canadian subsidiary of the Target Corporation, the eighth-largest retailer in the United States.Formerly headquartered in Mississauga, Ontario, the subsidiary formed with the acquisition of Zellers store leases from the Hudson's Bay Company (HBC) in January 2011.
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Throughout the 21st century, retail businesses in Canada have felt the pressures of foreign store expansions into the country, as well as a shift towards online retail. As a result, closures have been a mix of stores unique to the nation, as well as newcomers like Target Canada.
It was formed in 2013 when Target acquired Zellers leases and converted them into Target stores. Target Canada was in operation for two years until the closure of all stores in 2015. [46] The retail chain racked up losses of $2.1 billion in its brief lifespan, and the Canadian news media termed Target's foray into Canada as a "spectacular ...
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This story might explain why the sales of Target Canada's remaining stores are proceeding very slowly. I suspect that a lot of smaller retailers will take the rest of the 67 Target stores--on which bids were placed--such as Loblaws, Sears Canada, and perhaps Lowes Canada or Metro Inc.. Not many retailers can take 100,000 sf stores.
A Target was originally planned but in 2015 Target Canada filed for bankruptcy protection and announced the closing of all stores. [2] It is one of the two largest malls within the city of Vancouver, the other being CF Pacific Centre , and along with Pacific Centre are two of the most profitable shopping centres in Canada.
The Canoe Network is an online-only news site in Canada with a network of French and English news content, as well as sub-divisions of a job-listing site, TV programs, e-commerce and others. [8] FlipNews CA is a digital news platform that offers its users the ability to access the latest news in a concise and summarized format. Available both ...