Target Liquidation Sales Could Start Next Week
Friday January 30th, 2015
Posted at 8:25pm
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Liquidation sales at Target Canada stores could be underway by the end of next week according to court documents.
Target heads to court on Wednesday asking for approval to appoint a joint venture of liquidation companies to sell off the contents of its 133 stores across Canada, including the one at Devonshire Mall.
The liquidation companies have conducted many high profile retail liquidations including Eatons, BiWay, Bombay, Zellers and currently, Mexx.
In addition to merchandise in the stores, all fixtures, furnishings and equipment will also be for sale.
The liquidators will also sell off the assets of the distribution centres and head office and regional offices that are spread over the country.
Target will also be putting all store leases and properties up for sale.
Sales are to be complete no later than May 15th, but it is believed that many of the stores will be closed before then.