LIMITED) (in liquidation), I fix 26 February 2021 as the day on or before which the creditors of the company are to make their claims and to establish any priority their claims may have, under section 312 of the Companies Act 1993 (as amended), or to be excluded from the benefit of any distribution made before the debts are claimed or, as the case may be, from objecting to the distribution.Īny creditor who has a security interest over any of the company’s assets should urgently contact our office with details. Notice is hereby given that as liquidator of TRIPLE BLACK LIMITED (formerly TARGET FURNITURE S.I. Enquiries by creditors and shareholders may be directed to Ashton Wheelans Chartered Accountants, PO Box 13042, Christchurch, or phone (03) 366 7154 during normal business hours. LIMITED) by a special resolution of the shareholders, in accordance with section 241(2)(a) of the Companies Act 1993, with effect from 9.30am on 20 January 2021. This article originally appeared on is hereby given pursuant to section 255(2)(a) of the Companies Act 1993, that Andrew Marchel Oorschot was appointed liquidator of TRIPLE BLACK LIMITED (formerly TARGET FURNITURE S.I. “It’s not like Target operated in a space or a segment that nobody else did,” said Satov. Target clearly wasn’t being productive with its space this will create an opportunity for another player to make better use of it. “I’m not in favour of continued retail proliferation because I don’t want to see a glut of retail space like they have in the U.S.” Too much retail space he argued, diffuses sales. Shipping types may vary from auction to auction, even within the same marketplace. “We may have a healthier retail scene if some don’t get taken,” he said. Binding Shipping Buyer Arranges Shipping Fixed Price Shipping Free Shipping is a type of fixed price shipping The auction shipping type appears on the Auction Details page and in the Bid Confirmation dialog box. ![]() To Mark Satov, founder of Satov Consultants, that’s not necessarily a bad thing. Now with no obvious tenant to fill these cavernous spaces some of these properties could sit vacant for a while. When Zellers closed property owners didn’t have to worry about filling the space, as Target was already planing to move in, which enticed many smaller retailers to stay put. Though many expected Target to change the retail landscape in Canada, the company’s exit may have the more pronounced effect. “Right off the bat women’s boots are 18% more, and that has nothing to do with the retailer,” he said. In his experience, the federal duty at the border plays a significant role in higher prices in Canada. He draws an example from his own experience in selling women’s boots. When it comes to pricing, White added, it’s nearly impossible for Canadian retailers to line up with the U.S. stores, White believes you’d find similar discrepancies. If you were to compare the Canadian operations of Sears or Walmart to their U.S. For all the criticism the company faced, he feels the focus on pricing and product selection being different then its U.S. While White wasn’t shocked by Target’s decision to abandoned Canada, he said he couldn’t help but feel sympathetic. While few retailers have commented publicly, White said the chatter within the retail community has been intense. That’s going to steal sales away from other retailers for at least the first quarter and possibly longer, warned White, who has not had any direct business dealings with Target. In 2014, Target reportedly sold US$1.3 billion worth of goods, including US$623 million in the most recent quarter.Īs White pointed out, people tend to buy for an immediate need, but the liquidation process gives those consumers a chance to stock up on items they might not have purchased until later in the year. But in the meantime, the liquidation process “has to be taking a bite out of people’s business in the short term.”Īccording to Toronto retail consultant Doug Stephens, chains like Giant Tiger, Winners and Hudson’s Bay could feel the short-term pain as Target sells off its stock. Target’s departure will eventually send shoppers elsewhere and retailers will happily cater to them. ![]() “Long term, $2 billion is up for grabs,” said Ron White, founder of the luxury shoe retailer that bears his name. Even with the famous bare shelves that permeate the department-chain’s stores, that’s still a lot of merchandise to move and in the short term that could pinch some Canadian retailers further. retailer empties its shelves.īefore Target turns out the lights at its 133 locations in Canada it has to liquidate its stores. Target’s decision to tuck its tail and run out of Canada means billions in sales will soon be up for grabs - but retailers now face a flood of cheap merchandise and fire-sale prices in the market as the U.S.
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