Target Liquidation To Take Up To Five Months
Target Canada will close all of its stores in 2015. Photo 250 News
Prince George, B.C. – Target is providing answers to its customers’ questions in the wake of its announcement this week that all of the company’s 133 Canadian stores will be closing this year.
At this time Target can’t say precisely when its stores, including the outlet at Pine Centre, will be locking up for good although the company says stores will remain open on a case-by-case basis during the liquidation period, which could take 16 to 20 weeks.
Target has received approval to put $70 million into an employee trust to provide some severance for its workers. However with 17,600 employees at its Canadian outlets that works out to $3,977.27 per employee. The Prince George Target store open in May 2013.
Back to the customers and questions about merchandise markdowns, Target says the liquidation process should begin in two or three weeks.
Regarding returns the company says its stores will continue accepting returned merchandise according to pre-existing policies. Once the liquidation process begins all previously purchased items plus those bought during liquidation will final sale.
If you’re wondering about your REDcard payments, yes you have to make them as usual and yes you are responsible for the full outstanding balance.
If you have any questions you can call 1-800-440-0680 of check Guest.Relations@target.com
Meanwhile, it remains to be seen what will happen with the 117,785 square feet of retail space occupied by Target at Pine Centre, Target, Sears with 112,155 sq. ft., Sportchek and Shoppers Drug Mart are the four Anchor Stores at the mall.
Comments
I think Ikea needs to put a concept store in the space. With regional shoppers and two post-secondary institutions here, they would likely do great business.
There was a rumour that there would be an expansion at the SouthWest Corner of Pine Centre.
With Target moving maybe this expansion will not be necessary, and the Target space can be utilized.
Expand that mall, ugh. What for? More lousy stores?
Put in an Amazon.ca warehouse so I can pick up my order the same day instead of waiting two days.
I’ve heard Sears will be closing by the end of the year too.
Luring customers away from Walmart and Canadian Tires is a tall order. Target also shot itself in the foot when it announced at the very beginning that it would be unable to offer merchandise at the same low US prices.
Apparently Sears is contemplating selling off its Canadian part of the business in order to prop up its underperforming US parent.
The problems at Target were chain-wide. The bungled launching of Target in Canada will be studied in business classes for years as a perfect example of how not to do it.
According to the news feed on the side of this page, Sears is offering employee discounts and career opportunities to Target employees. I don’t think they are closing just yet.
Local economy doing well so target employees will find work easily.
Make it a specialty shop mall, we have the big ugly box stores to buy everyday stuff, but the cool off the wall shops rock, would be nice to see Sssshhh in the mall, pg hobby in there. If the owners of the mall wanted it full they woul lower the rent to make sure it’s full. I don’t go often but every third visit something is closing and something new is opening. What’s the reason for the turn around ?
interceptor: “According to the news feed on the side of this page, Sears is offering employee discounts and career opportunities to Target employees. I don’t think they are closing just yet.”
I don’t think you can take too much from that. These decisions happen at a high level and they happen quickly. The fact of the matter is that Sears has been on the decline for many years with no signs of turning around. You can’t keep operating in that fashion.
@P Val, there’s no way a small independant hobby or lingerie shop could afford the rent of that large space at Pine Centre, even if there were 4 shops in there. It is meant for an anchor tenant.
True enough JB, it could even be a 100% marketing department decision. “Hey, how do we look better in light of Targets failure?”
JB I understand that..but like I said.. If they lower the rent, it will attract more businesses. Also,as the anchor tenants are failing who,is left to replace them? Pine center is the only indoor mall here and should be a huge draw in winter.. Good marketing is what it needs.
Good idea lowering the rent. That should off set the substantial wage increases for minimum waged employees.
Local stores in the malls are bunk, leave the local shops out of malls. No offence to the mom and pop shops but they belong in a smaller commercial environment like an outside mall and corporate stores should fill inside malls. Malls that can’t attract corporate stores shouldn’t have the entitlement of being a mall in the first place.
I think it’s a sad day when two police officers are shot in Alberta and there is virtually NO comments. But a Target Store shuts down and oh my God !!!! Let’s talk about this because it’s soooooo important in the scope of life.
Oh and the figure involving the amount of money that would be given to each staff member may be right if ALL staff are eligible. Not everyone is and of course higher ranking staff will get more of that pot than a regular full time staff member, be lucky if a part time person gets anything.
newstome: “I think it’s a sad day when two police officers are shot in Alberta and there is virtually NO comments. ”
Should I point out the irony that you decided to add to this thread with your comment and not the one involving the police officers? No? Ok then.
I think we should here about every injury that happens in the line of work for everyone.
Totally agree with you on that one P Val. funny how so many accidental deaths you never hear about.
“Local economy doing well so target employees will find work easily.”
Really? Where would that employment be?
300 from Fraser Lake, plus target employees, plus oil patch reductions. Where is this easy employment opportunity?
You obviously have not been unemployed in PG.
If the mall offered a lower per square metre lease cost to attract businesses to fill empty space, don’t you think that the existing tenants elsewhere in the mall might feel that they should get a decrease in their costs?
metalman.
JohnnyBelt; you lost me. why would I go to the post about the police shootings and put a comment that target is closing it’s doors. That doesn’t make sense.
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