Zellers' buyer Target to close down Canadian operations
U.S. discount retailer Target Corp (NYSE: TGT) has decided to discontinue operating its 133 stores in Canada. The company's domestic subsidiary, Target Canada Co, has also filed an application for protection under the Companies’ Creditors Arrangement Act with the Ontario Superior Court of Justice. The decision comes two years after Target officially launched its first Canadian stores. In a related initiative, the company in 2011 acquired most of the retail locations of Zellers Inc from Hudson's Bay Co and its U.S. private equity investor NRDC Equity Partners.
15 January 2015•6 mins read
