If the shock of Target leaving Canada wasn’t enough. The announcement that the CEO; Gregg Steinhafel took a total of $61 million U.S. from Target when he left!
Now that Target; a US based company is leaving Canada it’s leaving many many Canadian business’s struggling due to running up huge bills and not paying them.
Today I was reading a post by our provincial news paper the Chronicle Herald on some of the bills & businesses effected in Nova Scotia such as Sobeys here in Nova Scotia got taken for $3 MILLION dollars!! Sobeys was already struggling some with some recent closures of stores across Canada and the $3 million dollar loss was just from Nova Scotia; I never even checked the damage Canada wide.
I looked a bit more as I was beyond curious after reading the list for Nova Scotia and OMG I almost fell off the couch when I found it. a 45 PAGE list of companies across Canada that are left with UNPAID bills from Target! Some are from a few hundred and many are thousands, some even in the millions!
Having this HUGE bills go unpaid is going to be extremely hard on small businesses and many put many of these businesses in quite a bind financially. I personally don’t think large companies such as Target should be able to come into Canada and than leave and not pay all the Canadian Businesses who supported them. Why should Canadian’s be responsible for large US Companies failures because they forgot to do their homework? The CEO took $61 MILLION dollars which is almost the amount put aside to pay out 17 500 employees.
We as Canadians will continue to pay for this as these businesses will need to make up the loss somewhere and we all know who ends up paying for that; the customer!
How do you feel about what Target has done to Canada??