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Gordon Brothers, Hilco, Great American Group to Liquidate Target Canada’s Inventory

February 05, 2015, 07:31 AM
Filed Under: Industry News

Target Canada announced that Gordon Brothers Group, Hilco Global (through its Canadian division, Merchant Retail Solutions) and affiliates of Great American Group will begin store closing sales at all Target Canada retail locations beginning tomorrow, February 5, 2015.  Target Canada obtained an Initial Order from the Ontario Superior Court of Justice for creditor protection under the Companies' Creditors Arrangement Act ("CCAA") on January 15, 2015.

On January 27th, Gordon Brothers Group, Hilco Global and Great American Group were appointed the successful bidders at auction by Target Canada and the Monitor of the CCAA and will manage the store closing process for all 133 Target Canada retail locations. 

“The appointment of Gordon Brothers Group, Hilco Global and Great American Group is an important step in Target Canada’s pursuit of a fair and orderly wind down under the CCAA process.  Our team members have been working incredibly hard to prepare and our guests are eagerly awaiting the upcoming sales,” said Aaron Alt, Chief Executive Officer, Target Canada.

Store closing sales will provide customers with significant discounts of up to 30 percent. Select fixtures, furnishings and equipment in the stores and distribution centers will also be for sale.

A spokesperson for the joint venture said, "this is a tremendous opportunity for consumers to take advantage of truly compelling discounts on a spectacular assortment of products.  We encourage consumers to shop early to take advantage of the best selection of products and great savings available throughout the stores.”

Founded in 1903, Gordon Brothers Group is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors.

Merchant Retail Solutions is a division of Hilco Global which provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer’s strategic initiatives. 

Great American Group, LLC is a leading provider of advisory and valuation services, asset disposition and auction solutions, and commercial lending services.

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