Target Planning to Close Canadian Stores, Including 3 in New Brunswick
Big news for Target shoppers across Canada today, as the company based in the U.S., plans to close more than 130 Canadian locations.
Target current employs upwards of 18,000 people in Canada, and is working to ensure surplus employees will be paid at least 16 weeks of severance upon closure.
Stores in New Brunswick that will close are in Fredericton, Moncton and Saint John.
The company has only operated Target stores in Canada since the Spring of 2013, and has struggled from the start. There has been speculation that its days were numbered.
The stores will remain open while the company completes the liquidation process.
Target says it will also work with an advisor to sell its real estate.