Target Is Leaving Canada
Target is pulling out of Canada.
The Minneapolis-based retailer announced Thursday morning it has filed for creditor protection with the Ontario Superior Court of Justice.
“Personally, this was a very difficult decision, but it was the right decision for our company,” Target CEO Brian Cornell said in a statement.
“After a thorough review of our Canadian performance and careful consideration of the implications of all options, we were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021.”
Target struggled in Canada with supply issues that left shelves often empty at many locations, as well as with overall public disappointment that its prices and selection did not equal those seen in the U.S.
The chain employs 17,600 people in 133 stores across Canada. It had racked up losses of $2.1 billion
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