Like many others, I was left in shock when Target announced it was closing its Canadian stores, I have been more in shock this weekend as I watched the firestorm of comments in the media and on social media, so many people don’t realize all the harsh realities that go with a store closure.
I was there when Target Canada arrived in Canada. On Opening night my daughter and I attended the exclusive grand opening event and if Target Canada had an event instore in the GTA over the last 23 months we were there. From shopping the same aisles as Sarah Jessica Parker and other celebs it was quite the ride over those months. Target Canada became one of the most social brands in Canada and for bloggers like me we were given the opportunity to get the message out, and we did well at that. Target Canada did not fail because of a lack of media attention, it failed for many reasons. Now, we who loved Target Canada and all it brought are faced with some very harsh realities. Realities not talked about in the media thus far.
It has been about feeling bad for the employees, and for the lack of stock, and the lack of a great buy. There are far many more considerations to take into consideration.
Everyone talks about the 17,600 employees of Target Canada who will loss their jobs. It is not just them who lost jobs or will lose jobs. Think of every company that worked with Target Canada, from the malls, to the Canadian brands that were sold in Target, think of the ad agencies, event planners, designers, who relied on contracts from Target as part of their bread and butter. There are also already layoffs there. In one small company I know first hand, their staff was cut in half the day Target announced they were closing. Their bread and butter had been working with Target. My friend Sheri, from This Birds Day posted a link to the list of creditors and I was glad she did. Apex, Veritas and Connected Multimedia on on the list of creditors. I know people at all three. While the Canadian Revenue service is owed over 12,000,000 there are many creditors who are owed hundreds of thousands, and I counted over 20 that are owed over 1 million each. Sobeys a Canadian brand is owed over 3 million. I know several there. Think about it, the job losses will not only be felt at Target but at its creditors as well based on what they are able to collect.
The list of debt currently owed does not presently contain unvoiced or unprocessed debt. Remember the total debt that Target Canada owes continues to grow, and will grow till the day the are actually closed.
If you were a social media type and attended the great event with Russ Matthews in December at my local Target store here in the Stockyards, well think of all the suppliers that were there that night, they are unpaid. They are just among the hundreds of companies now owed by Target Canada.
My girlfriend asked me why I was there at Target Canada as the Liquidation sale started. It was because a liquidation sale is about paying the creditors the most they can. These creditors are my friends, they are the Canadian brands sold at Target, they the companies that help keep our economy going and I want to minimize the damage done to them. It’s about protecting possible job losses at them. It’s about getting brands I love at a price that is fair. For me it is not about getting the best deal, a rock bottom price as that would do little for these companies. It’s about minimizing loss.
Now there are some decent deals already and if you have a Target Red Card, meaning you were already a loyal Target customer who liked to save your Redcard is still valid and you get those extra savings.
When I went on Thursday I used up a Target gift card I had and spent some more to complete the living room redecorating I had been doing and picked up some cute items for Valentine’s Day. I also grabbed some cosmetics as they were at 30% off and brands like Pixi, Elf and Sonia Kashuk who will soon be hard to find in Canada.
Now some tips if you plan on hitting the Target Canada Liquidation Sale
1. Go Early and Support the Creditors. The more in sales this week and next the more the creditors can and will receive.
2. Go Early for the best selection. Want a certain item you had your eye on, if you have not already been this weekend, you want to go this week.
3. Expect lines. There are many Canadians who are deal shoppers like me, they seem to come out in droves. I waited in line about 20 minutes to pay. Think Christmas eve.
4. Go Often. New trucks arriving daily means great chances you will find what you want.
5. Let politeness rule. As we get closer to the closing date, staff are shuffled and take on different job roles, and on the way out the door can you imagine the stress they are under. Job hunting while still working.
Let me know what are you thinking about the sale? Are you continuing to head to Target Canada till it closes?