Sunday, January 25, 2015

Target Closes Canada, Declares BK There

Ye gods!

...Target Corp's abrupt decision to withdraw from Canada is troubling news for many mall owners, as the most obvious potential buyer of property assets - Wal-Mart - is expected to cherry-pick from Target's 133 locations. Minneapolis-based Target, the second-biggest U.S. discounter, obtained creditor protection for the Canadian unit and said on Thursday it will seek to sell real estate assets...

That will put 17,000 on the unemployment line; and there is the little matter of $5 BILLION in debt.

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