WINNIPEG – It’s unclear how much Manitoba businesses will recoup from the hundreds of thousands of dollars they’re owed by Target Canada.
A list of the company’s creditors, released after the company filed for protection from its creditors, includes some big Manitoba bills. Target Canada owes almost $850,000 to Bison Transport, more than $450,000 to TransX, more than $200,000 to snack-maker Old Dutch Foods and more than $1 million to the Manitoba government’s taxation department. The full list is at the end of this article.
“A lot of people loaned money, goods and services thinking that is a long shot that they won’t be around so that is a surprise but the bottom line is there is always a risk,” said Leigh Taylor, a trustee in bankruptcy with LC Taylor.
READ MORE: Target’s exit from Canada will be ‘rapid’
An official from one of the Winnipeg companies on the list said they don’t think they will see any of the money.
“I don’t think we will ever recoup the costs,” said the company vice-president, who didn’t want his name used. The company provided Target with housewares and seasonal merchandise.
A Target Canada pharmacy owner in Manitoba who is owed several thousands of dollars isn’t sure how much money can be recovered. Pharmacies in Targets are owned by independent operators, and several are on the list of creditors.
“We have had a really good run of it and we enjoyed the experience and are quite disappointed to see it come to an abrupt end,” said the pharmacist, who didn’t want to be identified because of legal concerns. “We are all working to explore our options to see what needs to be done.”
READ MORE: Target package for outgoing CEO as big as that for all 17,600 Canadian staff
A spokeswoman for the provincial government said they couldn’t comment because of privacy legislation. The city said in a statement Target’s future business activities now fall under rules established by Federal legislation and any amounts owed by Target to the City of Winnipeg will be addressed as part of that process.
The liquidation of stock at Target Canada stores will go towards paying some of the creditors.
“There is not going to be enough to pay everybody so there is going to be a lot of people who lose,” said Taylor.
The list of Winnipeg creditors includes:
- Manitoba Finance, taxation department – $1,003,130
- Bison Transport – $846,216
- TransX – $455,016
- Old Dutch Foods – $219,661
- Campbell Company of Canada – $184,407
- Acklands Grainger – $42,624
- Nygard International – $26,615
- City of Winnipeg – $14,153
- Trustncare Pharmacy – $12,223
- Charles Scerbo Drugs – $10,369
- Industrial Truck Service – $8,660
- Camac – $6,150
- Clinix Pharmacy – $3,399
A Brandon creditor is also listed:
- Swayze Pharmacy – $7,600
Comments