Target says it will close the last of its 133 Canadian stores by April 12, a little more than two years after the U.S. retailer crossed the border on its first international expansion.
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Target announced in January that it was giving up on the new market and didn’t see how it could stop losing money there before at least 2021. The first wave of store closures then started last month.
Costly regulations, empty shelves and customer complaints about prices were among the problems that hampered the Minneapolis company’s expansion.
In addition to the store closures, the company’s three Canadian distribution centres and Mississauga headquarters near Toronto have also been closed.
Target Canada has been winding down its operations since Jan. 15, when it was granted protection under the Companies’ Creditors Arrangement Act.
The court-appointed monitor overseeing the windup indicated late last month that the shutdown was moving faster that originally planned and would likely be completed by mid-April.
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