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Target to close all Canadian stores by April 12

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MINNEAPOLIS — Target Corp. will close its remaining stores in Canada and complete its inventory liquidation by April 12, about a month earlier than had been anticipated.

Target Corp. will close its remaining stores in Canada and complete its inventory liquidation by April 12, about a month earlier than had been anticipated.

"We are pleased with the results of the liquidation sale to date and the speed at which we have moved through the wind-down process," said Target Canada chief executive officer Aaron Alt. "The court-approved real estate sales process is under way and is expected to be completed by the end of June."

Target’s three distribution centers and its headquarters in Mississauga, near Toronto, have already been shuttered, the company said.

Target began the process of closing its stores in Canada in mid-January, two years after opening them. Company executives pulled the plug on the Canadian foray after sustaining losses of more than $2 billion.

"We were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021," Brian Cornell, Target’s chairman and chief executive officer, said in January in announcing the decision to close all 133 stores in Canada and lay off some 17,000 employees.

Retail analysts blamed miscalculation and poor execution for Target’s Canadian stumble.

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