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Target Canada is seeking protection and closing

 
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Target Canada is seeking protection and closing - 1/15/2015 4:11:37 PM   
MrsWargamer


Posts: 1658
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This is actually not good news for just about anywhere.

Jobs being lost, likely it will damage local retail, and I know it is a bad piece of news in my town.

Just heard about this today, I doubt the news is hard to locate though.

Odds are you know people hurt by this news.

What a lousy way to greet the year.

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Wargame, 05% of the time.
Play with Barbies 05% of the time.
Play with Legos 10% of the time.
Build models 20% of the time
Shopping 60% of the time.
Exlains why I buy em more than I play em.
Post #: 1
RE: Target Canada is seeking protection and closing - 1/15/2015 7:01:19 PM   
TulliusDetritus


Posts: 5499
Joined: 4/1/2004
From: The Zone™
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You could have talked about Mars for that matter as I don't know what you are talking about Now I know (me mate google is always there). So another business is going bankrupt?

Bad news, indeed

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(in reply to MrsWargamer)
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RE: Target Canada is seeking protection and closing - 1/15/2015 8:35:15 PM   
JamesM

 

Posts: 1013
Joined: 8/28/2000
From: QLD, Australia
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Good luck and I hope your job is not affected.

http://www.cbc.ca/news/business/target-closes-all-133-stores-in-canada-gets-creditor-protection-1.2901618

(in reply to TulliusDetritus)
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RE: Target Canada is seeking protection and closing - 1/16/2015 6:33:12 PM   
vonRocko

 

Posts: 1442
Joined: 11/4/2008
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Wow, they built 133 stores in 2 years only to close them. They just build to many stores these days. What a waste.
Good for construction jobs though.

(in reply to JamesM)
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RE: Target Canada is seeking protection and closing - 1/16/2015 7:10:13 PM   
Barthheart


Posts: 3191
Joined: 7/20/2004
From: Nepean, Ontario
Status: offline

quote:

ORIGINAL: vonRocko

Wow, they built 133 stores in 2 years only to close them. They just build to many stores these days. What a waste.
Good for construction jobs though.


Nah, they only built a handful of those stores. Most were existing building that were taken over when they bought out Zellers, another discount store up here.
Still they shot themselves in the foot by trying to open that many stores at once with no existing supply chain in place. Common complaint from customers was empty shelves and high prices. Many up here expected the same Target as they see when they go cross border shopping.... but that was never going to happen.


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RE: Target Canada is seeking protection and closing - 1/16/2015 8:26:43 PM   
Chickenboy


Posts: 25305
Joined: 6/29/2002
From: San Antonio, TX
Status: offline
It's an important lesson on how to conduct expansions into Canada. Too many people think Canada=the USA in terms of market, demand, styles, consumer attitudes, etc. It's not. Similar, yet different.

Nordstrom's is playing it smart: one store only for now, while they (carefully) gauge the consumer acceptance and buy-in before expanding slowly thereafter.

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