Earlier this week, we reported that the Canadian home improvement retailer, Canadian Tire, would be taking over 12 former Target Canada locations. Target Canada made their exit earlier this year in mid-April, leaving 133 stores empty and 17,000+ people unemployed.
Now CBC News is reporting that Walmart Canada will buy 13 old Target Canada locations, as well as one distribution centre in Cornwall, Ontario. The total spend on the acquisition will cost approximately $350 million: $165 million for the leases and properties and $185 million on renovations. In conjunction with the purchase, Walmart will hire approximately 1500 trade and construction workers for the renovations, 2400 people to set up and staff stores, and another 1000 people to work in the distribution centre. Renovations are expected to start in a few months and the majority of locations are based in British Columbia, Ontario and Quebec. The locations include:
- Scottsdale Mall, Delta, B.C.
- Coquitlam Centre, Coquitlam, B.C.
- Surrey Place/Central City, Surrey, B.C.
- Haney Place Mall, Maple Ridge, B.C.
- Southdale Centre, Winnipeg, Man.
- Guelph, Guelph, Ont.
- Bayshore Shopping Centre, Ottawa.
- Billings Bridge Plaza, Ottawa.
- Pen Centre, St. Catharines, Ont.
- Candiac Power Centre, Candiac, Que.
- Terrarium Shopping Centre, Pointe Claire, Que.
- Galeries Chagnon, Levis, Que.
- Place Fleur De Lys, Quebec City, Que.
- Distribution Centre, Cornwall, Ont.
We’re not surprised that Walmart has decided to take over old Target Canada locations. Prior to Target Canada’s arrival, Walmart swooped in and scooped up 39 former Zellers locations. Shortly after Target Canada’s departure, Walmart announced they would be opening up 29 new supercentres – a $340 million expansion. We’re unsure if the $340 million expansion includes the soon-to-be acquired Target locations, but if it does, it will take Walmart‘s store count up to 396 locations.