News
Target Liquidation Sales Start Today
Target Canada’s liquidation sales begin today, with discounts up to 30% on merchandise. The Ontario Superior Court gave the retailer the green light on Wednesday, and told liquidators they could begin contacting parties interested in taking over store leases. Target leaves behind 133 stores, an estimated $1.1B worth of real estate. Yesterday's hearing was attended by lawyers representing landlords of the abandoned Target locations, including RioCan REIT, the retailer’s single largest landlord, with 26 leased properties. Responding to landlord concerns that liquidation sales could tarnish the image of their properties, Target ordered there be no signs advertising a going-out-of-business or bankruptcy sale.
