Gordon Brothers, Others to Liquidate Target Canada Locations
Target Canada announced that Gordon Brothers Group, Hilco Global (through its Canadian division, Merchant Retail Solutions) and affiliates of Great American Group will begin store closing sales at all Target Canada retail locations beginning February 5, 2015. Target Canada obtained an Initial Order from the Ontario Superior Court of Justice for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) on January 15, 2015.
On January 27, Gordon Brothers Group, Hilco Global and Great American Group were appointed the successful bidders at auction by Target Canada and the Monitor of the CCAA and will manage the store closing process for all 133 Target Canada retail locations.
“The appointment of Gordon Brothers Group, Hilco Global and Great American Group is an important step in Target Canada’s pursuit of a fair and orderly wind down under the CCAA process. Our team members have been working incredibly hard to prepare and our guests are eagerly awaiting the upcoming sales,” said Aaron Alt, CEO, Target Canada.
Store closing sales will provide customers with significant discounts of up to 30%. Select fixtures, furnishings and equipment in the stores and distribution centers will also be for sale.
A spokesperson for the joint venture said, “This is a tremendous opportunity for consumers to take advantage of truly compelling discounts on a spectacular assortment of products. We encourage consumers to shop early to take advantage of the best selection of products and great savings available throughout the stores.”
Target Canada gift cards will be honored throughout the sale. For a complete listing of closing store locations and the latest sale information, please visit www.target.ca