Target Canada – March 31, 2015

March 31, 2015

As of March 31, 2015 Target Canada has announced the closure of 120 stores by April 8, 2015. In its 7th report to the Court (dated March 24, 2015), the court-appointed Monitor (Alvarez and Marsal Canada Inc.) states that it is anticipated that all stores will be closed to the public as early as mid-April, 2015.

On March 30, 2015 the Court approved an asset purchase agreement among Target Canada, Target Brands Inc. and Target Corporation (the U.S. parent company) wherein Target Corporation will purchase a variety of items that use or display intellectual property (such as shopping carts and exterior signage), and pay the costs of third party removal and disposal of these items.

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