Canadian Chat → Target to discontinue Canadian Operations

Not completely dissimilar to how DJ's fabled Costco operates, which is part of the reason I attribute their great success and high quality of employees/satisfaction. I hope their CEO lives forever.

Moderator Action
The post that was here (and all 16 followups to it), has been moved to a new topic .. »And you thought the walk of shame meant something else...

Target's failure in Canada has now led to the firing of employees at the parent company's HQ in Minnesota.»minnesota.cbslocal.com/2 ··· nnesota/

They are also firing 170 employees in India.

So (550 + 170) divided by 133 stores equals about 5.4 headquarters employees per Canadian store.

I don't know retail---so I ask those who do:

What were those US/Indian workers doing for each Canadian store?

Those folks were not driving trucks, nor stocking the shelves, nor (from all accounts) were they purchasing much inventory for the stores.

So what were they doing?

(HR and payroll are pretty much computerized these days).

I ask out of honest ignorance and bewilderment.

Guessing at which Canadian employees should be 'perp-walked'?

How can they get away with this crap

Long list of small businesses wait for cash as Target’s cheque bounce
»www.theglobeandmail.com/ ··· 2932872/

When Target Canada collapsed into bankruptcy protection last month, hundreds of suppliers like Tanya Vierhuis felt the fallout.

The 20-year veteran market researcher spent months working on a major customer-feedback project for the discount retailer. Just before Target was granted court protection from creditors, the company sent her a cheque for $18,000, the final payment for her work. The cheque was dated Jan. 13, two days before the court filing, but she didn’t get it until Jan. 26. When she went to the bank to cash it, the cheque bounced.

snip

But others also are feeling the pain, including suppliers such as Ms. Vierhuis, landlords and Target’s franchised pharmacists.On Wednesday, suppliers made a bit of headway in Ontario Superior Court in their tussle with Target Canada to try to get back some of their inventory. Some are worried the chain bulked up on orders in the month before it filed for creditors’ protection.

Melvyn Solmon, a lawyer at Solmon Rothbart Goodman LLP representing baby product supplier ISSI Inc., told the court he wants to find out the value of the merchandise that Target ordered in the 30 days before its filing. If Target’s insolvency were an all-out bankruptcy, vendors of those 30-day goods would have the right to ask to get them back.

Mr. Solmon said in an interview the current proceedings are a liquidation and not a restructuring, which could open the way for suppliers to be able to retrieve their 30-day goods (or proceeds from their sales). Target values all the merchandise in its current liquidation sales at $445-million to $475-million at wholesale cost, according to a recent court filing.

Justice Geoffrey Morawetz gave Target a week to produce data on the value of its 30-day goods. Lawyers for Target had argued that they needed 10 to 14 days to collect the information.

Target’s franchised pharmacists, for their part, asked Justice Morawetz to force Target to provide them with financial assistance as they struggle to find a buyer for their patient records and inventory. Target had rejected the request, but the judge reserved his decision until next week. The court also approved a compromise agreement with Target’s landlords for its sale of leases as it looks for new tenants to take over the store locations.

Indeed.

Vendors, pharmacists, and landlords might have been very cautious with a new company---but [this] after all was Target!

Who would have dreamed of this outcome?

I hope that all of the people screwed by Target have good lawyers (including both attack-dogs as well as clever ones) and good forensic accountants.

Based on the article the lawyers are well into their game

Hmmmm maybe they were running a side business. Kid finds drugs in a toy!

»www.cp24.com/news/brampt ··· RdQ7udWs

See, THAT is the extra value that Target customers would have flocked to.

Unfortunate that management figured it out too late.

-----

Canadian customers would have really liked that DeGrass High.

But now Target has gone to pot.

At least some incompetent execs back at HQ in Minneapolis have been weeded out.

I love the spin, the find Pot and label it "Narcotics"

Thanks for the heads up
Heading out for some discount toy shoppin this afternoon

»www.cbc.ca/news/business ··· ?cmp=rss

quote:

---

Why Target Canada discounts are so meagre during liquidation sale

They expected door crashers and deep price cuts, but a little more than a week into Target Canada’s liquidation sales, some shoppers are complaining about what they didn’t expect: meagre discounts.

But those in the liquidation business say they often need to start slowly. Their main goal is not to offer great deals to demanding customers. Instead, liquidators aim to rake in as much money as possible before the doors are locked for good.

Dismal deals

As shoppers scour the aisles at a Target Canada store in Toronto, they scope out discounts that still range between 10 and 30 per cent for most goods. Many food items, furniture and toiletries are still stubbornly stuck at just 10 per cent off.

...snip...

---

Corporate greed is alive and well in Canada.

This is why I won't even get close to a Target while they liquidate.

more like people greedy. oh poor baby can't get as much a discount as they want. Many people lost their jobs you greedy assholes and all you're worried about is getting something for cheap.

God people are dumb sometimes.

... or not, perhaps they're trying to bring in as much as they can to ensure cheques don't bounce?

When Zellars was going under, prices were also high when they were 'liquidating' stock. They were down to 1/5 of the store size and prices were still higher than Walmart for most items.

»www.theglobeandmail.com/ ··· 2998853/

God, I need to embrace big business. You get incredible payouts for running a company into the ground.

* Huge data breach
* Closing an entire division
* Walk of shames
* Political contributions where you look like Chick-fil-A

Yep.

Big corporate execs mismanage (sometimes steal) millions, and get golden parachutes.

Kids shoplift a candy bar, get tossed in jail, and get a golden shower.

No justice.

i agree, but this behaviour isn't new...it's been going on for the better part of almost 2 decades.

And the problem is governments who have been bought and paid for by this executives sit back, do nothing and claim "its the free market at work".

While OT, look up the Subprime Auto Loans for the latest get rich quick scheme.

You guys took the wrong courses in university.
You should have signed up for Kleptocracy 101.
Oh yeah, I forget. That course was reserved for those not smart enough to become jocks.

fixed it for you man
Did you miss the 2008 financial collapse?

PM me if you are interested I will forward an email for an easy "financial assistant" job that only requires a internet connection, cell phone and a bank account. work from home $1300-$2500 CAD/week
I have received some emails from some foreign businessmen looking to enlarge their business in Canada (for help with money laundry)
right up your alley ?

why on earth would that interest me?

Who knows... this thread has basically devolved into "throw random unrelated personal thoughts on things into a thread" kind of thread.

and not surprising, despite the off topic comments, it continues on...stuff only gets deleted when it goes against a specific opinion.

So are you saying I Should "IGNORE" this Thread?

....fyi I never ignored the original Ignore thread...