10 a.m., Jan. 15)
announces plans to shutdown Canadian operations
dOrléans store among 133 to be closed across
By Fred Sherwin
Target store at Place d'Orléans will
soon be closing after it was announced that
the American reatailer will be ceasing its
Canadian operations. Fred Sherwin/Photo
d’Orléans will be looking for a new anchor tenant after
Target announced Wednesday that it plans to close all
of its Canadian stores.
to reports, the Minneapolis-based retailer expects to
report over $5.5 billion in pretax losses on discontinued
operations in 2014 and 2015, the majority of which can
be attributed to its failed Canadian operations.
announcement will leave over 17,600 employees out of work
once the company has liquidated its Canadian inventory.
Target says that nearly all of the existing employees
will receive a minimum of 16 weeks compensation, including
wages and benefits during the wind-down period.
Place dOrleans Target store opened in the fall of
2013 to mixed reviews and never really caught on with
local shoppers who remained loyal to competing retailers
like Wal-Mart, Canadian Tire and HBC.
questions now is, whos going to replace Target.
A number of companies mentioned in media reports about
Targets closing already have existing operations
in the area like the ones mentioned above, so its
anybodys guess who will occupy the space that was
completely renovated by Target after they purchased Zellers
from HBC in 2013.
story was made possible thanks to the generous support
of our local business partners.)
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