#8046214 - 01/15/15 08:05 AM
target closing in canada
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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i called it as soon as the first store opened
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#8046225 - 01/15/15 08:16 AM
Re: target closing in canada
[Re: Screamin Type ARGH!]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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I feel bad for the people that left their old jobs to go there. I know quite a few people that work there
_________________________
-Jeff
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#8046227 - 01/15/15 08:17 AM
Re: target closing in canada
[Re: JEFFOS]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47669
Loc: T.O. - Canaduh
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I feel bad for the people that left their old jobs to go there. I know quite a few people that work there
+1
_________________________
"Ban low performance drivers, not high performance cars"
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#8046231 - 01/15/15 08:19 AM
Re: target closing in canada
[Re: spd-dmn]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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Source for those wondering: http://www.cbc.ca/news/business/target-c...tores-1.2901618
You called it, but so did a number of consultancies. Target hired a number of agencies to do a review and they were told that their Canadian operations would fail, plan was too aggressive and their timelines too stringent.
And now this!!!
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#8046245 - 01/15/15 08:33 AM
Re: target closing in canada
[Re: 4age]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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Source for those wondering: http://www.cbc.ca/news/business/target-c...tores-1.2901618You called it, but so did a number of consultancies. Target hired a number of agencies to do a review and they were told that their Canadian operations would fail, plan was too aggressive and their timelines too stringent. And now this!!!
Also their competitors are pretty smart and aggressive themselves and wouldn't just let a new entrant grab market share at will.
They did make a lot of mistakes on their end though.
_________________________
-Jeff
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#8046259 - 01/15/15 08:37 AM
Re: target closing in canada
[Re: JEFFOS]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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Source for those wondering: http://www.cbc.ca/news/business/target-c...tores-1.2901618You called it, but so did a number of consultancies. Target hired a number of agencies to do a review and they were told that their Canadian operations would fail, plan was too aggressive and their timelines too stringent. And now this!!! Also their competitors are pretty smart and aggressive themselves and wouldn't just let a new entrant grab market share at will. They did make a lot of mistakes on their end though.
I know Wally was upping salaries in response to Target entering the market to retain talent. Shrug.
What's worse is that Target employees were not notified of this until today--despite there being a press release last Thursday. For the loss. (Wife works there).
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#8046285 - 01/15/15 08:46 AM
Re: target closing in canada
[Re: furball]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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^ahahaha I have no idea. Much of the management is from the Murican team, and one of the primary internal issues is that they were running their Canadian operations like their US one--because it "works". But heeeeeey, this be Canada, son. And improper decision making led to their demise.
Funny things go on in there...such as using a primary competitor's distribution center for goods.
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#8046318 - 01/15/15 08:58 AM
Re: target closing in canada
[Re: Screamin Type ARGH!]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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the only reason i called it was because i knew canadians were expecting US target prices with higher quality merchandise and that was just notgonnahappen.
i am very curious to know this "big" difference between cdn and us consumers though...
other than pricing, what was the miscalculation in terms of consumer insights?
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#8046364 - 01/15/15 09:12 AM
Re: target closing in canada
[Re: spd-dmn]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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the only reason i called it was because i knew canadians were expecting US target prices with higher quality merchandise and that was just notgonnahappen.
i am very curious to know this "big" difference between cdn and us consumers though...
other than pricing, what was the miscalculation in terms of consumer insights?
Canadian customers do work and respond differently than the US
_________________________
-Jeff
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#8046368 - 01/15/15 09:13 AM
Re: target closing in canada
[Re: JEFFOS]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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Word on the street is they had lots of supply chain and store quantity issues... I don't know for sure I'm just guessing.
_________________________
-Jeff
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#8046385 - 01/15/15 09:16 AM
Re: target closing in canada
[Re: Euphoricuck]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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Word on the street is they had lots of supply chain and store quantity issues... I don't know for sure I'm just guessing. The places are stacked full of product with little or no shoppers. Everytime I go in there its like a private shopping trip for me and only me
But is it the right product? Imagine you get everything you need except 3 items so you have to go somewhere else to buy those? Hassle right?
Imagine you go in to buy 1 specific item that's a great deal that's promoted. That's all you came in for - imagine they didn't have it? Annoying right?
_________________________
-Jeff
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#8046391 - 01/15/15 09:18 AM
Re: target closing in canada
[Re: JEFFOS]
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Euphoricuck
Post Master Supreme
Registered: 11/05/03
Posts: 92703
Loc: Canadistan
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Word on the street is they had lots of supply chain and store quantity issues... I don't know for sure I'm just guessing. The places are stacked full of product with little or no shoppers. Everytime I go in there its like a private shopping trip for me and only me But is it the right product? Imagine you get everything you need except 3 items so you have to go somewhere else to buy those? Hassle right? Imagine you go in to buy 1 specific item that's a great deal that's promoted. That's all you came in for - imagine they didn't have it? Annoying right? inorite happens at every store...especially in the gta.
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#8046406 - 01/15/15 09:21 AM
Re: target closing in canada
[Re: Euphoricuck]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47669
Loc: T.O. - Canaduh
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Word on the street is they had lots of supply chain and store quantity issues... I don't know for sure I'm just guessing. The places are stacked full of product with little or no shoppers. Everytime I go in there its like a private shopping trip for me and only me
loved how quiet it was vs wallymart. wifey and i go there with the baby, just roam around grab whatever you need in peace. barely checkout lineup. pricing was decent on certain items, sometimes very good if on sale. reg priced stuff nothign special.
_________________________
"Ban low performance drivers, not high performance cars"
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#8046407 - 01/15/15 09:21 AM
Re: target closing in canada
[Re: JEFFOS]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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the only reason i called it was because i knew canadians were expecting US target prices with higher quality merchandise and that was just notgonnahappen.
i am very curious to know this "big" difference between cdn and us consumers though...
other than pricing, what was the miscalculation in terms of consumer insights? Canadian customers do work and respond differently than the US
i hear this all the time, and i see it in the car market, but what is the big difference in the retail goods market
i know theres big CS differences, and we let businesses get away with a lot more than US customers.. wat dat lawsuit mentality deww
but i still havent seen any concrete evidence of such a massive rift in consumer sentiment when it comes to buying
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#8046424 - 01/15/15 09:30 AM
Re: target closing in canada
[Re: Euphoricuck]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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There is the problem of comparison shopping (US vs Canadian prices) always. What Canadian consumers don't understand is the cost of logistics is much, much higher in Canada vs the 'states, so prices would never be equal.
I'm not certain the Target issue was ever pricing though (in reality). There may have been the perception of Target being expensive, but Target always priced stuff the same as Walmart for the equivalent product. + Price matching. + many promotions that were way cheaper. Ppl just didn't bother going to the store. It's always a ghost town there and for that, I do not know why.
Yes, there were supply chain issues up front, but many of those were resolved later on...and despite resolution, the stores were still ghost towns XD
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#8046430 - 01/15/15 09:33 AM
Re: target closing in canada
[Re: spd-dmn]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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the only reason i called it was because i knew canadians were expecting US target prices with higher quality merchandise and that was just notgonnahappen.
i am very curious to know this "big" difference between cdn and us consumers though...
other than pricing, what was the miscalculation in terms of consumer insights? Canadian customers do work and respond differently than the US i hear this all the time, and i see it in the car market, but what is the big difference in the retail goods market i know theres big CS differences, and we let businesses get away with a lot more than US customers.. wat dat lawsuit mentality deww but i still havent seen any concrete evidence of such a massive rift in consumer sentiment when it comes to buying
Canadian vs US spending and buyer profile has always been an issue, and is widely studied since forever in the B2C world.
http://www.ats-sea.agr.gc.ca/can/5645-eng.htm
http://www.huffingtonpost.ca/2013/12/30/canadian-american-spending_n_4519051.html
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#8046447 - 01/15/15 09:41 AM
Re: target closing in canada
[Re: 4age]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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There is way more than that.
I wish we knew a retail exec, they probably would know about this topic.
_________________________
-Jeff
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#8046456 - 01/15/15 09:43 AM
Re: target closing in canada
[Re: JEFFOS]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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I'm gonna head over to RFD and see what the experts have to say.
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#8046459 - 01/15/15 09:44 AM
Re: target closing in canada
[Re: Screamin Type ARGH!]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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Word on the street is they had lots of supply chain and store quantity issues... I don't know for sure I'm just guessing. The places are stacked full of product with little or no shoppers. Everytime I go in there its like a private shopping trip for me and only me loved how quiet it was vs wallymart. wifey and i go there with the baby, just roam around grab whatever you need in peace. barely checkout lineup. pricing was decent on certain items, sometimes very good if on sale. reg priced stuff nothign special.
Yeah it's good for the customers that are there but every customer has an average basket spend per visit. You can only get this number so high because everyone has only so much money.
You can increase number of trips per year which is good but you can only do that so much on average (and food and consumables does this the most a which target was only half in). So you biggest bet is getting more people into the stores.
Nobody in the stores? Kiss of death.
_________________________
-Jeff
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#8046468 - 01/15/15 09:52 AM
Re: target closing in canada
[Re: JEFFOS]
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SW20_MR2
Post Master Sr
Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
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We never went to the Canadian store, but even the U.S. one wasn't anything special to us.
_________________________
1991 MR2 Turbo aka "The Myth"...does it really exist? 2006 Mazda3 Sport aka "Reality"...it really does exist...
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#8046505 - 01/15/15 10:05 AM
Re: target closing in canada
[Re: Screamin Type ARGH!]
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hyper-s2k
Post Master Supreme
Registered: 12/01/05
Posts: 14556
Loc: T dot O dot, Canada
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Word on the street is they had lots of supply chain and store quantity issues... I don't know for sure I'm just guessing. The places are stacked full of product with little or no shoppers. Everytime I go in there its like a private shopping trip for me and only me loved how quiet it was vs wallymart. wifey and i go there with the baby, just roam around grab whatever you need in peace. barely checkout lineup. pricing was decent on certain items, sometimes very good if on sale. reg priced stuff nothign special.
+1 -- esp. the one up in Aurora; same w/ that Wallymart -- can take my sweet ass time and check out is pretty fast.
_________________________
'08 //M3 - now @ 90,xxx km - wtf did i do? '13 x1 - now @ 99,xxx km - a2b car '10 x3 - now @ 123,xxx km - time 2 go? '03 s2k - now @ 80,xxx km - a2a car '08 535i - sold @ 149,421 km - cashed out just in time! '08 impreza 2.5i - sold @ - 64,147 km - smh POS '01 rav4 - killed @ 155,879 km - RIP old friend
"Driving in the snow is like sex. If you want to avoid accidents, abstinence is the best policy. If you're gonna take her for a spin, use protection." - Rick Mercer
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#8046560 - 01/15/15 10:33 AM
Re: target closing in canada
[Re: hyper-s2k]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106969
Loc: Barrie, Ont,
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I love the Target in Barrie. Lots of stuff, never super busy.
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#8046748 - 01/15/15 11:57 AM
Re: target closing in canada
[Re: loudsubz]
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f22b-dohc
Post Master Supreme
Registered: 09/09/05
Posts: 11227
Loc: canadia
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i like target.. i have the 5% off rbc card..
they have some really good clearance stuff...
i bought shitload of car cleaning stuff for ~ 2-5 bucks that were regular 5-20...
guess it will be fun on clearance clearance stuff.
_________________________
JB weld is your friend Chewbacca makes me yawn *Yawn* "rolling -----on my 2.0, with the rag top down so my hair can blow..."
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#8046972 - 01/15/15 01:40 PM
Re: target closing in canada
[Re: furball]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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#8046988 - 01/15/15 01:53 PM
Re: target closing in canada
[Re: furball]
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Simon_the_Pieman
Post Master Sr
Registered: 08/13/01
Posts: 9462
Loc: The A
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Shiet... this reminds me... This has serious implications...
They a branded debit and CC ... shiiiiiet....
yup wife has the 'red' card. i will miss getting coffee and reading magazines while the wife shops.... pause.
_________________________
"I'd love it if we did it... but I guess I'm a big skeptic on Canadians because so many are retarded as fuck." - 355-Si, 2020
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#8047103 - 01/15/15 03:14 PM
Re: target closing in canada
[Re: 4age]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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Sad for the job losses everywhere - sucks
_________________________
-Jeff
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#8047145 - 01/15/15 03:40 PM
Re: target closing in canada
[Re: JEFFOS]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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duuude
direct drive walkmans then there were ones with diamond coated heads.
fancy dancy. killed by ipod XD
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#8047333 - 01/15/15 05:24 PM
Re: target closing in canada
[Re: JEFFOS]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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I feel bad for the people that left their old jobs to go there. I know quite a few people that work there +1
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#8047343 - 01/15/15 05:35 PM
Re: target closing in canada
[Re: 4age]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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There is the problem of comparison shopping (US vs Canadian prices) always. What Canadian consumers don't understand is the cost of logistics is much, much higher in Canada vs the 'states, so prices would never be equal.
I'm not certain the Target issue was ever pricing though (in reality). There may have been the perception of Target being expensive, but Target always priced stuff the same as Walmart for the equivalent product. + Price matching. + many promotions that were way cheaper. Ppl just didn't bother going to the store. It's always a ghost town there and for that, I do not know why.
Yes, there were supply chain issues up front, but many of those were resolved later on...and despite resolution, the stores were still ghost towns XD
BS, supply issues were never resolved. Been to Target 3 times (last time was beginning of December) and every single freaking time the counters are empty. Basic items like paper towel, toilet paper are EMPTY on the counters. The in-stock is a complete joke IMO. You could walk around and just can't help but notice all the empty counters, even the coolers were empty.
It really sucks for the folks working in the field since they have very little control over replenishment issues and count on HO to FIX it.
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#8047396 - 01/15/15 06:12 PM
Re: target closing in canada
[Re: Hatorade]
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c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19291
Loc: Wiesloch-Walldorf, Germany
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Been to 3 targets and they were consistent...consistent with empty counters that is!!!
The other thing that confused me about target. So they wanted to position themselves as a discount store (just going by memory from all the advertising propaganda), yet they have a Starbucks...lol. I confused.
the only thing you are consistent on is hating everything else.
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Who cares
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#8047397 - 01/15/15 06:13 PM
Re: target closing in canada
[Re: c2k]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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Been to 3 targets and they were consistent...consistent with empty counters that is!!!
The other thing that confused me about target. So they wanted to position themselves as a discount store (just going by memory from all the advertising propaganda), yet they have a Starbucks...lol. I confused. the only thing you are consistent on is hating everything else.
Problem is?
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#8047400 - 01/15/15 06:15 PM
Re: target closing in canada
[Re: Hatorade]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106969
Loc: Barrie, Ont,
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One in Barrie is always stocked, even on opening day I didn't see any empty shelving.
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#8047401 - 01/15/15 06:18 PM
Re: target closing in canada
[Re: LNXGUY]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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One in Barrie is always stocked, even on opening day I didn't see any empty shelving.
So it appears some stores were ok, but the general public says otherwise. Number one complaint seems to be empty shelves...
Doesn't matter anymore as this will become a case study for education.
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#8047709 - 01/15/15 11:38 PM
Re: target closing in canada
[Re: Euphoricuck]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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^ which location? The two I went to(which were somewhat late bloomers to the market) were fine.
On regular occasion there were many holes in inventory in all of the mississauga ones.
_________________________
-Jeff
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#8047730 - 01/16/15 12:08 AM
Re: target closing in canada
[Re: Euphoricuck]
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Kid Bro Sweets
Post Master Sr
Registered: 11/09/06
Posts: 6774
Loc: GTA
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Word on the street is they had lots of supply chain and store quantity issues... I don't know for sure I'm just guessing. The places are stacked full of product with little or no shoppers. Everytime I go in there its like a private shopping trip for me and only me
+1 i felt like riding my bike in there or have a paint ball tournament
_________________________
James Carter: Lee, let me introduce you to Carter's new theory of criminal investigation: follow the rich white man. Lee: Follow the rich white man? James Carter: Behind every big crime there's a rich white man waiting for his cut.
"Without this thinking you would see, you would see numbers that you wouldn't believe in reverse."
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#8047795 - 01/16/15 07:35 AM
Re: target closing in canada
[Re: Kid Bro Sweets]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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#8047844 - 01/16/15 08:21 AM
Re: target closing in canada
[Re: furball]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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Best buy has been closing stores and stuff too. It's oooooooover!
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#8047871 - 01/16/15 08:37 AM
Re: target closing in canada
[Re: JEFFOS]
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Euphoricuck
Post Master Supreme
Registered: 11/05/03
Posts: 92703
Loc: Canadistan
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^ which location? The two I went to(which were somewhat late bloomers to the market) were fine. On regular occasion there were many holes in inventory in all of the mississauga ones. oh you went?
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#8047927 - 01/16/15 09:12 AM
Re: target closing in canada
[Re: Euphoricuck]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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Yes biweekly and people would send me pictures of the store sections on a biweekly basis - no idea why I guess they just liked to take pictures of stores.
_________________________
-Jeff
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#8048102 - 01/16/15 10:46 AM
Re: target closing in canada
[Re: 4Three]
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The Postman
A-List Member also The Man
Post Master Sr
Registered: 02/13/02
Posts: 4974
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Ive always liked Target. But yeah, inventory spread pretty thin and not any cheaper then Walmart.
Wife and I went yesterday to check out any possible sales, cashier told me she found out about the closings via Facebook and that Target really didnt comunicate anything to them prior to the news announcment.
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#8048170 - 01/16/15 11:18 AM
Re: target closing in canada
[Re: 4age]
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zc911
Ferrari4Sale 😎
Post Master Supreme
Registered: 01/01/00
Posts: 16449
Loc: toronto
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Wow thats fucked, having worked at HBC when they where bought, sold, bought sold, and eventually closed Zellers, it's really stressfull and really sucks for those employees
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#8048374 - 01/16/15 12:41 PM
Re: target closing in canada
[Re: 4age]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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As for Target - the entire Canadian side was blindsided. The decision to chop Canadian ops came from upper management on the US side on Thursday. Because the US company was doing bad on the state side, they could no longer afford the huge risk on the Canadian side.
They went as far as cancelling all corporate cards + shutting down phone lines at HQ + having cops at the office incase of riot. So internal or external communications, and those that were travelling on business got fucked bc their corporate cards no longer worked (my wife being one of them).
HQ is officially closed and their package begins immediately. Vacations are being paid out etc.
That is fucking disgusting, from their shitty roll out, to this.
It doesn't surprise me one bit on how they handled this, talk about lack of stop gap measures even with this massive shutdown. It's rare in history to see such sharp closures, that explains why they are offering these generous packages (16 weeks for less than 2 years of work, lol only 1 week is required for every year worked a this level). I've worked on 2 restructuring plans to date and this is laughable, it will cost more money to do what they are doing now than handling it like civilized people. Scum, fuck target.
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#8048376 - 01/16/15 12:41 PM
Re: target closing in canada
[Re: Hatorade]
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c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19291
Loc: Wiesloch-Walldorf, Germany
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Been to 3 targets and they were consistent...consistent with empty counters that is!!!
The other thing that confused me about target. So they wanted to position themselves as a discount store (just going by memory from all the advertising propaganda), yet they have a Starbucks...lol. I confused. the only thing you are consistent on is hating everything else. Problem is?
you're just a miserable cranky old man. relax dude and we dont want ya to be the first to get a heart attack on csi-on.
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Who cares
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#8048402 - 01/16/15 12:49 PM
Re: target closing in canada
[Re: c2k]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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Been to 3 targets and they were consistent...consistent with empty counters that is!!!
The other thing that confused me about target. So they wanted to position themselves as a discount store (just going by memory from all the advertising propaganda), yet they have a Starbucks...lol. I confused. the only thing you are consistent on is hating everything else. Problem is? you're just a miserable cranky old man. relax dude and we dont want ya to be the first to get a heart attack on csi-on.
Give you a heart attack!!!
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#8048412 - 01/16/15 12:52 PM
Re: target closing in canada
[Re: Risky Business]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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As for Target - the entire Canadian side was blindsided. The decision to chop Canadian ops came from upper management on the US side on Thursday. Because the US company was doing bad on the state side, they could no longer afford the huge risk on the Canadian side.
They went as far as cancelling all corporate cards + shutting down phone lines at HQ + having cops at the office incase of riot. So internal or external communications, and those that were travelling on business got fucked bc their corporate cards no longer worked (my wife being one of them).
HQ is officially closed and their package begins immediately. Vacations are being paid out etc.
That is fucking disgusting, from their shitty roll out, to this. It doesn't surprise me one bit on how they handled this, talk about lack of stop gap measures even with this massive shutdown. It's rare in history to see such sharp closures, that explains why they are offering these generous packages (16 weeks for less than 2 years of work, lol only 1 week is required for every year worked a this level). I've worked on 2 restructuring plans to date and this is laughable, it will cost more money to do what they are doing now than handling it like civilized people. Scum, fuck target.
Most HQ peeps are over 3 years, as HQ was in operations 1+ year prior to store opening. But ya, cray cray! At least the package is good.
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#8048439 - 01/16/15 01:12 PM
Re: target closing in canada
[Re: 4age]
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Euphoricuck
Post Master Supreme
Registered: 11/05/03
Posts: 92703
Loc: Canadistan
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As for Target - the entire Canadian side was blindsided. The decision to chop Canadian ops came from upper management on the US side on Thursday. Because the US company was doing bad on the state side, they could no longer afford the huge risk on the Canadian side.
They went as far as cancelling all corporate cards + shutting down phone lines at HQ + having cops at the office incase of riot. So internal or external communications, and those that were travelling on business got fucked bc their corporate cards no longer worked (my wife being one of them).
HQ is officially closed and their package begins immediately. Vacations are being paid out etc.
thats fucked.
link to source doe?
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#8048446 - 01/16/15 01:15 PM
Re: target closing in canada
[Re: Euphoricuck]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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As for Target - the entire Canadian side was blindsided. The decision to chop Canadian ops came from upper management on the US side on Thursday. Because the US company was doing bad on the state side, they could no longer afford the huge risk on the Canadian side.
They went as far as cancelling all corporate cards + shutting down phone lines at HQ + having cops at the office incase of riot. So internal or external communications, and those that were travelling on business got fucked bc their corporate cards no longer worked (my wife being one of them).
HQ is officially closed and their package begins immediately. Vacations are being paid out etc.
thats fucked. link to source doe?
As 4age said previously, his wife works there...I mean worked XD
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#8051702 - 01/19/15 03:19 PM
Re: target closing in canada
[Re: Euphoricuck]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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#8051716 - 01/19/15 03:26 PM
Re: target closing in canada
[Re: furball]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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everyone run to target in 3 weeks to buy a sonic care!
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#8052700 - 01/20/15 11:09 AM
Re: target closing in canada
[Re: furball]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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This thread has inspired me to go to a target and see wtf is up with this store...will be my first time ever in Canada. brb
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#8052909 - 01/20/15 12:15 PM
Re: target closing in canada
[Re: loudsubz]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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I went in Friday afternoon and it was still dead as usual. Grabbed one of the shirts I like (last one in my size ). Don't think I'll ever be going back now.
GNSP
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#8052916 - 01/20/15 12:17 PM
Re: target closing in canada
[Re: loudsubz]
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Euphoricuck
Post Master Supreme
Registered: 11/05/03
Posts: 92703
Loc: Canadistan
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In true fashion all the brownies were at the target by our place this weekend trying to scoop up a deal so ypu were there too ?
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#8053007 - 01/20/15 12:53 PM
Re: target closing in canada
[Re: Risky Business]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47669
Loc: T.O. - Canaduh
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As for Target - the entire Canadian side was blindsided. The decision to chop Canadian ops came from upper management on the US side on Thursday. Because the US company was doing bad on the state side, they could no longer afford the huge risk on the Canadian side.
They went as far as cancelling all corporate cards + shutting down phone lines at HQ + having cops at the office incase of riot. So internal or external communications, and those that were travelling on business got fucked bc their corporate cards no longer worked (my wife being one of them).
HQ is officially closed and their package begins immediately. Vacations are being paid out etc.
That is fucking disgusting, from their shitty roll out, to this. It doesn't surprise me one bit on how they handled this, talk about lack of stop gap measures even with this massive shutdown. It's rare in history to see such sharp closures, that explains why they are offering these generous packages (16 weeks for less than 2 years of work, lol only 1 week is required for every year worked a this level). I've worked on 2 restructuring plans to date and this is laughable, it will cost more money to do what they are doing now than handling it like civilized people. Scum, fuck target.
+1
_________________________
"Ban low performance drivers, not high performance cars"
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#8053041 - 01/20/15 01:13 PM
Re: target closing in canada
[Re: TheRealCSnapper]
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Euphoricuck
Post Master Supreme
Registered: 11/05/03
Posts: 92703
Loc: Canadistan
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i've been today and yesterday over lunch because i needed to pick up some shit...
i had no idea that their shit is that much less than loblaws. some of the shit i bought at loblaws the day before (mostly household shit) were twice as much at loblaws! FUCK!
uh ya, loblaws is fucking expensive as shit...for everything
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#8053091 - 01/20/15 01:47 PM
Re: target closing in canada
[Re: furball]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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a GC Asian in the making ... i had no idea that their shit is that much less than loblaws. some of the shit i bought at loblaws the day before (mostly household shit) were twice as much at loblaws! FUCK!
the stores do look pretty sad right now...nothing worth buying are on sale at this point.
back to loblaws for me. ugh!
GC asian in the making? He is the exact opposite, the more it costs the better.
Anyway, moving on it was quite the exciting trip for me...first time in target. It was hella busy, especially for a Tuesday afternoon. Some aisles looked like Baghdad, employees were the best doe. Some fob walking in front of me tried to stop an *associate* and asked where something was, *associate* didn't even stop or make eye contact, just shrugged his shoulders and kept walking Can't blame him, all of them looked beat up/miserable
stocked shelves /euphoric
Hard to tell in the pic, but huge line ups, it was jammed up front
Furball aisle, my teeth felt cleaner just standing here:
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#8053106 - 01/20/15 01:51 PM
Re: target closing in canada
[Re: Risky Business]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106969
Loc: Barrie, Ont,
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Vas, are those Sonicares onsale? lol I want one.
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#8053175 - 01/20/15 02:14 PM
Re: target closing in canada
[Re: TheRealCSnapper]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106969
Loc: Barrie, Ont,
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there is riff raff at other stores?
its not chinatown common dude. the "nicer" No Frills on Dundas & Landsdowne is riff raff central. I don't even want to talk about the one on King and Jameson. I'm too much of a prissy bitch to shop there. Nothing beats the Liberty Village Metro on a Saturday afternoon after a Yoga class. it's a full on yoga pants ASSault.
I might have to do my grocery shopping in Toronto.
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#8053201 - 01/20/15 02:22 PM
Re: target closing in canada
[Re: LNXGUY]
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TheRealCSnapper
Post Master Supreme
Registered: 12/05/02
Posts: 31955
Loc: Toronto, Canada
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there is riff raff at other stores?
its not chinatown common dude. the "nicer" No Frills on Dundas & Landsdowne is riff raff central. I don't even want to talk about the one on King and Jameson. I'm too much of a prissy bitch to shop there. Nothing beats the Liberty Village Metro on a Saturday afternoon after a Yoga class. it's a full on yoga pants ASSault. I might have to do my grocery shopping in Toronto.
grocery shopping with a boner...not as cracked up as it sounds.
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#8053202 - 01/20/15 02:23 PM
Re: target closing in canada
[Re: TheRealCSnapper]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106969
Loc: Barrie, Ont,
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I will strap it to my leg!
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#8053472 - 01/20/15 04:01 PM
Re: target closing in canada
[Re: Senor Eduardo_82]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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Shopping at Metro is like shopping at a giant gas station. I hate that place.
Fortinos or die.
Longos man. Or even starskys sometimes is awesome.
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-Jeff
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#8054208 - 01/20/15 10:19 PM
Re: target closing in canada
[Re: loudsubz]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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I go during my lunch, in and out in under 30 mins. Fuck dealing with that shit in your spare time outside of work.
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#8054405 - 01/21/15 06:37 AM
Re: target closing in canada
[Re: iamfob]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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I park in a climate controlled garage at work, in some cases I've brought in items and put them in the fridge. Most stuff you buy will be fine anyway.
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#8055378 - 01/21/15 02:43 PM
Re: target closing in canada
[Re: Senor Eduardo_82]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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hahaha complaining about grocery shopping. That's what grocery gateway is for, son!!!! Delivered to your door! Total time spent: 5 minutes making order online
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#8055396 - 01/21/15 02:49 PM
Re: target closing in canada
[Re: SuPeR-MaRiO]
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SuPeR-MaRiO
Post Master Sr
Registered: 06/28/01
Posts: 6118
Loc: Toronto, Ontario
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Luckily the grocery stores by me are open til 10pm. I've often gone late in the evening. It sucks when you get home late from work every day
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#8055412 - 01/21/15 02:57 PM
Re: target closing in canada
[Re: 4age]
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Euphoricuck
Post Master Supreme
Registered: 11/05/03
Posts: 92703
Loc: Canadistan
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hahaha complaining about grocery shopping. That's what grocery gateway is for, son!!!! Delivered to your door! Total time spent: 5 minutes making order online
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#8055440 - 01/21/15 03:09 PM
Re: target closing in canada
[Re: titty sprinkles]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47669
Loc: T.O. - Canaduh
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i read somewhere that Loblaws will also have a drive through style order ahead and pick up...tho it won't matter to you guys since y'all hate loblaws. loblaws is great, it's just friggin expensive.
yeah the one on high tech rd. in r/hill has it...we got there sometimes (not using that tho). it's like 4 parking spaces with this rig setup, you pull in, press the button, give them your pickup# (which u got online earlier when you did your shopping), and bam...staff roll custom carts out with your goods, load them into your car.
_________________________
"Ban low performance drivers, not high performance cars"
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#8055449 - 01/21/15 03:12 PM
Re: target closing in canada
[Re: Screamin Type ARGH!]
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TheRealCSnapper
Post Master Supreme
Registered: 12/05/02
Posts: 31955
Loc: Toronto, Canada
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i read somewhere that Loblaws will also have a drive through style order ahead and pick up...tho it won't matter to you guys since y'all hate loblaws. loblaws is great, it's just friggin expensive. yeah the one on high tech rd. in r/hill has it...we got there sometimes (not using that tho). it's like 4 parking spaces with this rig setup, you pull in, press the button, give them your pickup# (which u got online earlier when you did your shopping), and bam...staff roll custom carts out with your goods, load them into your car.
i'm okay with paying extra for that!
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#8055618 - 01/21/15 04:12 PM
Re: target closing in canada
[Re: TheRealCSnapper]
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Euphoricuck
Post Master Supreme
Registered: 11/05/03
Posts: 92703
Loc: Canadistan
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because you are so pressed for time? not really. but why deal with grocery stores when i can be masturbating or doing ANYTHING BUT but you can masturbate in the grocery store
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#8073475 - 02/02/15 01:51 PM
Re: target closing in canada
[Re: Euphoricuck]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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#8073535 - 02/02/15 02:23 PM
Re: target closing in canada
[Re: furball]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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Anything good will be set aside or already purchased by the former employees fo sho
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-Jeff
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#8074764 - 02/03/15 09:56 AM
Re: target closing in canada
[Re: iamfob]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106969
Loc: Barrie, Ont,
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Barrie store is still loaded from what I saw the other day.
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#8078429 - 02/05/15 08:07 AM
Re: target closing in canada
[Re: Screamin Type ARGH!]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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55" 4k TV @ $450
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#8078432 - 02/05/15 08:08 AM
Re: target closing in canada
[Re: furball]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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<waits for CSI:ON to come back with two Sonicare toothbrushes>
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#8078500 - 02/05/15 08:55 AM
Re: target closing in canada
[Re: Euphoricuck]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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The stores should all be getting packed now as they just said full speed ahead pack it up.
The more they sell now they make more money as for liquidation they will continue to drop prices more over time to ensure they are clean by D day
_________________________
-Jeff
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#8078638 - 02/05/15 09:58 AM
Re: target closing in canada
[Re: JEFFOS]
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Lost^
Lost^
Unregistered
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are video games on sale?
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#8078661 - 02/05/15 10:10 AM
Re: target closing in canada
[Re: ]
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SuPeR-MaRiO
Post Master Sr
Registered: 06/28/01
Posts: 6118
Loc: Toronto, Ontario
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I can only imagine the threads/posts on RFD
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#8078673 - 02/05/15 10:13 AM
Re: target closing in canada
[Re: SuPeR-MaRiO]
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porschetr
Post Master Supreme
Registered: 05/15/01
Posts: 23391
Loc: WBridge
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I can only imagine the threads/posts on RFD
Holy 161 pages!
So, I'm one of the losers who got up early to go check it out. I had nothing specific in mind to buy, but thought if I saw a good deal, I'd take advantage. (I went to the Stockyards location in Toronto)
What a bust! Such a disappointment...don't waste your time. Almost as disappointing as the first time I went into a Target Canada store a couple years ago.
I didn't see a single item of interest that was labelled as 30% off...mostly 10 and 20%... Shelves clearly picked over. Line up at the cash register was annoying because their computer system is so slow that scanning each item took about 30 seconds...so do the math.
The only good thing that happened was a couple items didn't scan, so the "manager" was called over and he asked me if I knew the price, and I couldn't remember...so he guessed at $9.99...when I told him I'm pretty sure it was closer to $20....he didn't care he was too busy. The cashier joked with me afterwards, she didn't care either because she's out of a job anyways!
So, if you go, and the item you want doesn't happen to have a bar code when you get to the cash, you might just get an extra deal. If that doesn't happen, you may have just wasted some of your precious time.
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#8078714 - 02/05/15 10:30 AM
Re: target closing in canada
[Re: TheRealCSnapper]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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I am certain that net/net Target's move into Canada was cash positive for the population and government by a LONG shot. The only real loser here is Target themselves, we as a society benefited from their own short sightedness and they financed it.
Just because stores are closing now you can't ignore the cash/tax generated for property management companies for store and office locations, property taxes, income taxes, and HST paid, construction companies for leasehold improvements and on going maintenance, 17k employees who were paid for 2+ years and generated payroll tax revenue, distribution companies for turning over stock and warehousing product and their respective employees, hydro/utilities utilized by Target, and on and on and on.
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#8078948 - 02/05/15 12:02 PM
Re: target closing in canada
[Re: Risky Business]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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But... think of all those people who picked up those Sonicares at a steal! Fuuuuuck... their teeth would feel so clean.
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#8078956 - 02/05/15 12:06 PM
Re: target closing in canada
[Re: furball]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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Went to the hillcrest mall location at lunch with no intention of buying anything...
What has been seen cannot be unseen People become total scum over 70 cents. If i had an AK47 I would consider emptying it out on everyone in there...yea i said it.
If anyone is into shoplifting, this is your time to go.
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#8078957 - 02/05/15 12:07 PM
Re: target closing in canada
[Re: porschetr]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47669
Loc: T.O. - Canaduh
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Holy 161 pages!
So, I'm one of the losers who got up early to go check it out. I had nothing specific in mind to buy, but thought if I saw a good deal, I'd take advantage. (I went to the Stockyards location in Toronto)
What a bust! Such a disappointment...don't waste your time. Almost as disappointing as the first time I went into a Target Canada store a couple years ago.
I didn't see a single item of interest that was labelled as 30% off...mostly 10 and 20%... Shelves clearly picked over. Line up at the cash register was annoying because their computer system is so slow that scanning each item took about 30 seconds...so do the math.
The only good thing that happened was a couple items didn't scan, so the "manager" was called over and he asked me if I knew the price, and I couldn't remember...so he guessed at $9.99...when I told him I'm pretty sure it was closer to $20....he didn't care he was too busy. The cashier joked with me afterwards, she didn't care either because she's out of a job anyways!
So, if you go, and the item you want doesn't happen to have a bar code when you get to the cash, you might just get an extra deal. If that doesn't happen, you may have just wasted some of your precious time.
wifey's friend told her same thing. EXACTLY as I/we thought it'd play out fucking wallys. why bother.
_________________________
"Ban low performance drivers, not high performance cars"
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#8079092 - 02/05/15 01:00 PM
Re: target closing in canada
[Re: Risky Business]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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somehow i don't want to jump into this hype to save a couple bucks because Target fucked Canada so hard
17000 jobs disappeared Billions of dollars owed to the Gov't
so i can save $20 on a toaster
This guy gets it!
I am certain that net/net Target's move into Canada was cash positive for the population and government by a LONG shot. The only real loser here is Target themselves, we as a society benefited from their own short sightedness and they financed it. Just because stores are closing now you can't ignore the cash/tax generated for property management companies for store and office locations, property taxes, income taxes, and HST paid, construction companies for leasehold improvements and on going maintenance, 17k employees who were paid for 2+ years and generated payroll tax revenue, distribution companies for turning over stock and warehousing product and their respective employees, hydro/utilities utilized by Target, and on and on and on.
Very analysis. Such TLDR. Amaze
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#8079116 - 02/05/15 01:14 PM
Re: target closing in canada
[Re: Senor Eduardo_82]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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#8079127 - 02/05/15 01:22 PM
Re: target closing in canada
[Re: Risky Business]
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TheRealCSnapper
Post Master Supreme
Registered: 12/05/02
Posts: 31955
Loc: Toronto, Canada
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I am certain that net/net Target's move into Canada was cash positive for the population and government by a LONG shot. The only real loser here is Target themselves, we as a society benefited from their own short sightedness and they financed it. Just because stores are closing now you can't ignore the cash/tax generated for property management companies for store and office locations, property taxes, income taxes, and HST paid, construction companies for leasehold improvements and on going maintenance, 17k employees who were paid for 2+ years and generated payroll tax revenue, distribution companies for turning over stock and warehousing product and their respective employees, hydro/utilities utilized by Target, and on and on and on.
true, but it seems like what Target giveth, Target taketh away!
http://globalnews.ca/news/1790027/target-canada-owes-tens-of-millions-in-unpaid-taxes-rent/
Chapman’s Ice Cream is owed $19,987. Coca-Cola Canada is hoping to recoup at least a portion of the $339,699 owed to it by Target Canada, which filed for bankruptcy protection last week.
The City of Winnipeg is owed more than $14,000, while Target’s Canadian arm is in arrears with the central Ontario city of Barrie to the tune of nearly $195,000.
A 45-page document included in the U.S. retail giant’s Canadian filing last week reveals a very—very—long list of companies, suppliers, landlords even municipalities and governments that the departing department store chain owes billions to.
All told, Target Canada owed roughly $5 billion to creditors when it filed for bankruptcy under the Companies’ Creditors Arrangement Act in an Ontario court last Thursday. That amount makes it likely one of the largest bankruptcies in Canadian history, experts suggest, certainly in the retail industry.
“It’s got to be one of the bigger ones, in terms of the size of the debt,” a lawyer source said, asking not to be named because her firm is part of the proceedings.
Target also owes landlords and governments sizable amounts of money. Hillcrest Mall Management Inc., a property company in Ontario who owns the real estate housing at least one Target store, is owed $1.7 million.
The Canada Revenue Agency and provincial governments are similarly owed millions in taxes. Target Canada’s unpaid tax bill from the CRA is $12 million. The B.C. and Quebec governments are owed $2.6 million and $6.5 million, respectively.
“You charge your customers HST on behalf of the government, with the idea you’re supposed to remit that over,” Vanessa Ibe, a lawyer at Toronto-based Rosenbaum & Frank, said.
But a bankruptcy filing freezes out all creditors from collecting on what they’re owed until a judge approves a repayment plan.
Liquidation
Target Canada lists the value of its assets as being about the same as its liabilities, with its 137 store leases as well as merchandise inventory and some real estate set to be sold off very soon.
The proceeds from those sales will go to paying off creditors, though it’s far from certain whether the money it gets will be enough to pay 100 cents on the dollar of what it owes.
Lawyers for the Canadian arm of the U.S. department store chain have until mid-February to file details about how the failed chain will pay its creditors.
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#8079195 - 02/05/15 02:02 PM
Re: target closing in canada
[Re: Risky Business]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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Edited by furball (02/05/15 02:02 PM)
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#8079270 - 02/05/15 02:37 PM
Re: target closing in canada
[Re: TheRealCSnapper]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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I am certain that net/net Target's move into Canada was cash positive for the population and government by a LONG shot. The only real loser here is Target themselves, we as a society benefited from their own short sightedness and they financed it. Just because stores are closing now you can't ignore the cash/tax generated for property management companies for store and office locations, property taxes, income taxes, and HST paid, construction companies for leasehold improvements and on going maintenance, 17k employees who were paid for 2+ years and generated payroll tax revenue, distribution companies for turning over stock and warehousing product and their respective employees, hydro/utilities utilized by Target, and on and on and on. true, but it seems like what Target giveth, Target taketh away! http://globalnews.ca/news/1790027/target-canada-owes-tens-of-millions-in-unpaid-taxes-rent/Chapman’s Ice Cream is owed $19,987. Coca-Cola Canada is hoping to recoup at least a portion of the $339,699 owed to it by Target Canada, which filed for bankruptcy protection last week. The City of Winnipeg is owed more than $14,000, while Target’s Canadian arm is in arrears with the central Ontario city of Barrie to the tune of nearly $195,000. A 45-page document included in the U.S. retail giant’s Canadian filing last week reveals a very—very—long list of companies, suppliers, landlords even municipalities and governments that the departing department store chain owes billions to. All told, Target Canada owed roughly $5 billion to creditors when it filed for bankruptcy under the Companies’ Creditors Arrangement Act in an Ontario court last Thursday. That amount makes it likely one of the largest bankruptcies in Canadian history, experts suggest, certainly in the retail industry. “It’s got to be one of the bigger ones, in terms of the size of the debt,” a lawyer source said, asking not to be named because her firm is part of the proceedings. Target also owes landlords and governments sizable amounts of money. Hillcrest Mall Management Inc., a property company in Ontario who owns the real estate housing at least one Target store, is owed $1.7 million. The Canada Revenue Agency and provincial governments are similarly owed millions in taxes. Target Canada’s unpaid tax bill from the CRA is $12 million. The B.C. and Quebec governments are owed $2.6 million and $6.5 million, respectively. “You charge your customers HST on behalf of the government, with the idea you’re supposed to remit that over,” Vanessa Ibe, a lawyer at Toronto-based Rosenbaum & Frank, said. But a bankruptcy filing freezes out all creditors from collecting on what they’re owed until a judge approves a repayment plan. LiquidationTarget Canada lists the value of its assets as being about the same as its liabilities, with its 137 store leases as well as merchandise inventory and some real estate set to be sold off very soon. The proceeds from those sales will go to paying off creditors, though it’s far from certain whether the money it gets will be enough to pay 100 cents on the dollar of what it owes. Lawyers for the Canadian arm of the U.S. department store chain have until mid-February to file details about how the failed chain will pay its creditors.
This is why I hate the media, they only list enough b.s. to stir emotion, never provide context and let the layman run the rumour mill.
If you look at their list of creditors, do you want to guess who they owe the most amount of money to? Themselves, their intercompany loan to the parent company is over $3B.
CRA is only owed 12M.
110%
You looking for a bitch slap?
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#8080582 - 02/06/15 10:39 AM
Re: target closing in canada
[Re: LNXGUY]
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TheRealCSnapper
Post Master Supreme
Registered: 12/05/02
Posts: 31955
Loc: Toronto, Canada
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your city has been morally bankrupt since the day you arrived.
:p
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#8082114 - 02/07/15 12:14 AM
Re: target closing in canada
[Re: TYJelly]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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Yup it's a smart liquidation strategy . No point in giving away everything now
_________________________
-Jeff
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#8082666 - 02/07/15 04:35 PM
Re: target closing in canada
[Re: TYJelly]
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hyper-s2k
Post Master Supreme
Registered: 12/01/05
Posts: 14556
Loc: T dot O dot, Canada
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Happy to pick up the last 2 boxes of Lego Movie lego sets for 20% off.
We needed regular consumables like TP, paper towels, disinfectant wipes, etc., so I don't mind the 10%.
Will go back for more when they hike up the discount rate.
Kids clothes were picked pretty clean - according to the wife; typical sizes left are S and XL. lol nothing that would fit my kids.
_________________________
'08 //M3 - now @ 90,xxx km - wtf did i do? '13 x1 - now @ 99,xxx km - a2b car '10 x3 - now @ 123,xxx km - time 2 go? '03 s2k - now @ 80,xxx km - a2a car '08 535i - sold @ 149,421 km - cashed out just in time! '08 impreza 2.5i - sold @ - 64,147 km - smh POS '01 rav4 - killed @ 155,879 km - RIP old friend
"Driving in the snow is like sex. If you want to avoid accidents, abstinence is the best policy. If you're gonna take her for a spin, use protection." - Rick Mercer
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#8083889 - 02/08/15 09:24 PM
Re: target closing in canada
[Re: furball]
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hyper-s2k
Post Master Supreme
Registered: 12/01/05
Posts: 14556
Loc: T dot O dot, Canada
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^ which location? the one we were at was packed on saturday -- we were in a line with 10-15 people ahead but w/ all tills open, it moved pretty quickly.
_________________________
'08 //M3 - now @ 90,xxx km - wtf did i do? '13 x1 - now @ 99,xxx km - a2b car '10 x3 - now @ 123,xxx km - time 2 go? '03 s2k - now @ 80,xxx km - a2a car '08 535i - sold @ 149,421 km - cashed out just in time! '08 impreza 2.5i - sold @ - 64,147 km - smh POS '01 rav4 - killed @ 155,879 km - RIP old friend
"Driving in the snow is like sex. If you want to avoid accidents, abstinence is the best policy. If you're gonna take her for a spin, use protection." - Rick Mercer
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#8104183 - 02/23/15 11:43 AM
Re: target closing in canada
[Re: phoenixrage]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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#8104695 - 02/23/15 06:20 PM
Re: target closing in canada
[Re: furball]
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f22b-dohc
Post Master Supreme
Registered: 09/09/05
Posts: 11227
Loc: canadia
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I don't even know wtf to do with my old movies I had on DVD Feels like such a waste to dump/donate them... That shit used to cost $20-40 each! I feel for the suckers that bought BR discs... movies on physical media?.. da fuq
I like seeing Dolby, dts hd master blah blah light up on my receiver
_________________________
JB weld is your friend Chewbacca makes me yawn *Yawn* "rolling -----on my 2.0, with the rag top down so my hair can blow..."
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#8104703 - 02/23/15 06:24 PM
Re: target closing in canada
[Re: f22b-dohc]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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I don't even know wtf to do with my old movies I had on DVD Feels like such a waste to dump/donate them... That shit used to cost $20-40 each! I feel for the suckers that bought BR discs... movies on physical media?.. da fuq I like seeing Dolby, dts hd master blah blah light up on my receiver
Hmm all my downloaded content has the above encoded...
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#8105146 - 02/24/15 08:56 AM
Re: target closing in canada
[Re: Screamin Type ARGH!]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45550
Loc: Raptors Land
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#8105156 - 02/24/15 09:05 AM
Re: target closing in canada
[Re: Screamin Type ARGH!]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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#8105572 - 02/24/15 01:03 PM
Re: target closing in canada
[Re: Hatorade]
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f22b-dohc
Post Master Supreme
Registered: 09/09/05
Posts: 11227
Loc: canadia
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I don't even know wtf to do with my old movies I had on DVD Feels like such a waste to dump/donate them... That shit used to cost $20-40 each! I feel for the suckers that bought BR discs... movies on physical media?.. da fuq I like seeing Dolby, dts hd master blah blah light up on my receiver Hmm all my downloaded content has the above encoded...
pass me some hatorade
i cant be bothered Dl'ing. - i stream and 2 channel is ok; but if i like the movie i'll buy the blueray for the hell of it and blast it.
_________________________
JB weld is your friend Chewbacca makes me yawn *Yawn* "rolling -----on my 2.0, with the rag top down so my hair can blow..."
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#8106174 - 02/24/15 08:31 PM
Re: target closing in canada
[Re: phoenixrage]
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f22b-dohc
Post Master Supreme
Registered: 09/09/05
Posts: 11227
Loc: canadia
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What u guys think? Lg pb56 60 inch
639.99 less 5% daily tv..yay nay? Replace 8 year old 42 plasma
I wanted 50 4k < 1000 but don't see a benefit yet..
Edited by f22b-dohc (02/24/15 08:32 PM)
_________________________
JB weld is your friend Chewbacca makes me yawn *Yawn* "rolling -----on my 2.0, with the rag top down so my hair can blow..."
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#8106556 - 02/25/15 09:04 AM
Re: target closing in canada
[Re: phoenixrage]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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It's official... $5.1B to exit..
http://www.businessinsider.com/target-q4-earnings-2015-2
On January 14, 2015, following a comprehensive assessment of Canadian operations, Target’s Board of Directors approved a plan to discontinue operating stores in Canada. As a result of the decision, Target recorded a pretax impairment loss and other charges of $(5,105) million in fourth quarter 2014. After-tax losses from discontinued operations were $(3,600) million in fourth quarter, or $(5.59) per share, and $(4,085) million in full-year 2014, or $(6.38) per share.
Edited by furball (02/25/15 09:16 PM)
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