DRIFTER_016 Posted February 3, 2015 Report Posted February 3, 2015 Seems like the big sell off starts on Thursday at Target for those of you interested. No store here so it ain't gonna help me any. http://www.blogto.com/fashion_style/2015/02/leaked_info_says_target_will_start_liquidation_thursday/?sc_ref=facebook The Target Canada liquidation sales the company teased at earlier this month will kick off on Thursday, according to internal memos between Target staffers - and, if the emails are to be believed, it'll be like Black Friday all over again.The CBC reports that while Target is on the brink of acquiring court clearance for liquidation, which is set to be approved as early as this Wednesday, the company is already preparing to start unloading huge amounts of merchandise at its soon-to-be shuttered Canadian stores, including several GTA locations. "We expect Thursday sales to double compared to a normal Thursday," one of the emails reads. Another, sent from a B.C. human resources employee, reads: "Thursday will be like Black Friday." Expect more details on the deals themselves to arrive within the coming days, as the company is planning "hardcore marketing" to spread the word about the sales. (Friendly reminder: Be nice to Target employees while you scramble for that discounted toaster.)
jimmer Posted February 3, 2015 Report Posted February 3, 2015 Don't think they carried much of anything worthwhile.
lookinforwalleye Posted February 3, 2015 Report Posted February 3, 2015 Would be nice if everbody just said go to hell and stayed away...unlikely to happen as people would sell their souls for a discount!
mike rousseau Posted February 3, 2015 Report Posted February 3, 2015 Would be nice if everbody just said go to hell and stayed away...unlikely to happen as people would sell their souls for a discount! Not sure why you'd say this or what it would prove... They took a shot at the Canadian market and were unsuccessful... PERIOD... Now when they admit defeat and close up shop we should kick them while they're down?
LostAnotherOne Posted February 3, 2015 Report Posted February 3, 2015 What pisses me off about this company is that it was run by some dummy who gonna get a nice severance package (60 million) while everyone else has to look for new jobs. Target should of hired me as CEO of Target Canada cause not only would I have run the business into the ground, but I would of hooked myself up with shelves of fishing equipment and started my own fishing store. Actually I don't think they sell fishing stuff do they.
Old Ironmaker Posted February 3, 2015 Report Posted February 3, 2015 When my wife says their merchandise was crappola one listens. I have never set foot in one and Target is one of my favorite stores in Florida. I could get my good quality golf balls there for at least 25% less and always load up. When I asked her to check for them in Hamilton she told me they didn't even have any cheap quality golf stuff. Mike, as far as kicking them when they are down I would never give any large corp. sympathy, they sure don't care much for their own employees so why should I care about some faceless corporation? They write a cheque for 50 mil to one guy for failing, If that isn't obscene I don't know what is. Could they have split that 50 mil amongst those that were left without a job? Yes, but never would. That isn't the only executive that received a huge severance, I guarantee that.
OhioFisherman Posted February 3, 2015 Report Posted February 3, 2015 Don't think they carried much of anything worthwhile. Ya, this, even the ones stateside in my area had next to nothing.
Pigeontroller Posted February 3, 2015 Report Posted February 3, 2015 (edited) Apparently Target owes Canadian cities, suppliers and landlords over $5 billion, and their CEO is getting a $75 million bonus, 17,000 Canadians lost their jobs...HECK WITH them, have some stones and do the right thing, don't go near there stores! Edited February 4, 2015 by aplumma wrong word for this site
bigugli Posted February 3, 2015 Report Posted February 3, 2015 Apparently Target owes Canadian cities, suppliers and landlords over $5 billion, and their CEO is getting a $75 million bonus, 17,000 Canadians lost their jobs...F them, have some stones and do the right thing, don't go near there stores! Boycotting won't hurt Target in the least. You are only screwing those that Target owes. At the top of the list are the Canadian taxpayers as represented by municipal and provincial tax revenues and development fees owing. Remember, in any distribution of remaining cash/assets, the tax man gets first dibs.
solopaddler Posted February 4, 2015 Report Posted February 4, 2015 I wouldn't go even if all their crappy merchandise was free.
Paudash Posted February 4, 2015 Report Posted February 4, 2015 please explain the bitterness. The 17000 jobs would not have existed if they did not try to set up in Canada. Also they took over leases from a bunch bankrupt Zellers store that were going unpaid so you can't hold that against them. With the 17000 jobs do you realize that 10000 of them were people that have been working there for less than 6 months and all of them less than 3 years. So do not be bitter and thank them for trying and creating a great how not to business lesson for the future.
Old Ironmaker Posted February 4, 2015 Report Posted February 4, 2015 Bigugli, they have already for gone CCAA protection, lucky if creditors get 10 cents on the dollar. Not penny one clearing their shelves go to creditors. Lucky if the current employees see their last payroll. I'm sorry they were not successful, in the long run it only hurts us taxpayers and bottom percentage of wage earners in retail jobs. Retail workers are one rung above fast food workers, both tough jobs with pay just above unemployment, maybe.
Paudash Posted February 4, 2015 Report Posted February 4, 2015 employees are going to be fine, everyone with over 1 year of service is getting 4 months pay Also Sears has said they are planning to hire 5000 ex Target employees because how well they were trained in retail as for the creditors the vast majority of them are American companies hence the reason why they failed so badly in Canada
Pigeontroller Posted February 4, 2015 Report Posted February 4, 2015 Please explain the misinformation....lol
SirCranksalot Posted February 4, 2015 Report Posted February 4, 2015 There must be only a certain number of retail jobs in Canada that is sustainable in the long run. They could be with Target, Sears or other retailers. Surely somone will pick up any slack left by Target, but evidently there was not enough 'slack' in the first place to employ the number of people that Target hired.
bigugli Posted February 4, 2015 Report Posted February 4, 2015 Bigugli, they have already for gone CCAA protection, lucky if creditors get 10 cents on the dollar. Not penny one clearing their shelves go to creditors. Lucky if the current employees see their last payroll. I'm sorry they were not successful, in the long run it only hurts us taxpayers and bottom percentage of wage earners in retail jobs. Retail workers are one rung above fast food workers, both tough jobs with pay just above unemployment, maybe. The businesses that are left owing won't hurt. They'll just use it as a write off. Bad enough the Government, again, let big business slide on the tax bill owing. Which means the taxpayer is on the hook again. The only advantage to anyone is the fact that the taxman gets paid off first, then the banks, and on down the line.
John Bacon Posted February 4, 2015 Report Posted February 4, 2015 The businesses that are left owing won't hurt. They'll just use it as a write off. It still hurts them. If they have to write off $100,000; that will reduce their tax bill by $30,000 or so. They will still be out pocket for the difference. The tax write off may take some of the sting out of it, but the suppliers would much rather collect the money than get the write off. If lost your job then you would pay less tax... but you would still have less money than when you had a job.
Big Cliff Posted February 4, 2015 Report Posted February 4, 2015 The businesses that are left owing won't hurt. They'll just use it as a write off. Bad enough the Government, again, let big business slide on the tax bill owing. Which means the taxpayer is on the hook again. The only advantage to anyone is the fact that the taxman gets paid off first, then the banks, and on down the line. Not so my friend. If you run a business and one of your customers doesn't pay you for what ever reason not only are you out of pocket for that money but you still have to cover your cost of doing business. Your suppliers still have to be paid, you still have to cover your employees wages and benifits, you still have your overhead.......Oh, and you'll still have to remit your taxes or pay a penality. On a sale of $100,000.00 your gross margine might be $30,000.00 (if you are lucky) which means you are now out of pocket $70,000.00 plus whatever your cost of operation is (the difference between your gross and net). On top of all of that your cash flow is now affected, you suddenly don't have that $100,000.00 in your cash flow stream but your suppliers and employees don't care, YOU owe them money not Target and they still want to be paid. Trust me, those suppliers are hurting really badly too, in fact they don't get to walk away from their debts like Target is (well some may be forced to declare bankruptsy too). To top it all off I hear that a lot of the Target employees are doing some pretty nasty things, sabotageing products, not showing up for work, showing up but not working. I understand their frustration but IMHO the best way to handle this is to do your job to the best of your ability, do it with pride and your head held high. You never know when the supervisor you are working for now might be the next person that interviews you, how would you like them to remember you?
crappieperchhunter Posted February 4, 2015 Report Posted February 4, 2015 (edited) To top it all off I hear that a lot of the Target employees are doing some pretty nasty things, sabotageing products, not showing up for work, showing up but not working. I understand their frustration but IMHO the best way to handle this is to do your job to the best of your ability, do it with pride and your head held high. You never know when the supervisor you are working for now might be the next person that interviews you, how would you like them to remember you? So true Cliff. It happened to my own brother. Lost his job in 2008. He was the HR person for his facility. They moved the whole business back to the states....just like target is doing now. Lots of the employees developed an BADattitude at the end...some of the stories he has told me...unbelievable. He showed up and did his job everyday....right to the very end. 14 months later he gets a phone call at home. It's the old plant manager from his last job. Wants to know how my brother is making out. Long story short he wanted him to come and start an HR department at his new employers. Over 5 years there now and he loves it. Even got his wife in there as well and drive in together in the morning. He is pretty confident he got that job because of how he carried himself during the closing of the other place. His plant manager told him that himself. Edited February 4, 2015 by aplumma Stop with the cuss word brief.
Fish Farmer Posted February 4, 2015 Report Posted February 4, 2015 They kicked the veterans out of their stores for selling Poppies. Target can kiss my
mike rousseau Posted February 4, 2015 Report Posted February 4, 2015 (edited) Hey Don't get me wrong... I'm a walmart employee (distribution) so this is good news for me... But to not take advantage of liquidation prices because they're a big bad evil corporation is foolish in my opinion... They're on their way out and won't be back.... The local stores are going to get increased business... Target still loses here... Why not save a couple bucks through their failure? Edited February 4, 2015 by Mike Rousseau
Old Ironmaker Posted February 4, 2015 Report Posted February 4, 2015 How is Sears going to hire 5000 employees when they are cutting back hours at Eastgate Square in Hamilton? I know, let go of full timers and hire part time employees to replace them for less $$ and zero benefits.
Paudash Posted February 4, 2015 Report Posted February 4, 2015 because retail has a turn over of over 40% per year, also the day of having a retail job with benefits is long gone. Time to go to school and take a trade and get a job that you can control your own future
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