TORONTO – Target Canada has received court approval to begin liquidating its stock.
The Minneapolis-based retailer announced last month that it would close all 133 of its Canadian stores and lay off more than 17,000 workers, two years after it began opening stores in Canada.
At a hearing Wednesday, Target received the go-ahead to begin liquidating Thursday.
Already, many Target stores have stopped carrying perishables such as milk, eggs and frozen foods, Target spokeswoman Molly Snyder said.
In addition to remaining inventory, Target’s shelving, fixtures and equipment will also be sold.
The company took over old Zellers locations and began to open under the Target banner in Canada for the first time in March 2013, but it failed to live up to customer expectations.