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Target is slated to close the last of its Canadian stores by Sunday as part of the company’s exit from the country.
The chain announced in January that it would leave the Canada market this year, closing all 133 stores and eliminating about 17,600 jobs. The final store closures come a month sooner than planned, according to Fortune magazine.
Target has already closed its Canada headquarters and three distribution centers. The company has worked to cut its losses by selling equipment and building leases.
“We are pleased with the results of the liquidation sales to date and the speed at which we have moved through the wind-down process,” Target Canada CEO Aaron Alt says. “The court-approved real estate sales process is underway and is expected to be completed by the end of June 2015.”
Target’s Canadian division was unprofitable and the company couldn’t come up with a plan to increase profits sooner than 2021, according to Target CEO and corporation chairman Brian Cornell. The company plans to focus on growing its U.S. business.
