Categories: Headlines

Target to Lease Some Zellers Units

Target Corp. (Minneapolis) will lease a portion of the Canadian-based Zellers Inc. (Brampton, Ontario) stores that it doesn’t want to Walmart Stores Inc. (Bentonville, Ark.). A deal was signed for Walmart to assume the leasehold interests of 39 locations currently operated by Zellers.

Specific locations will be announced in the fall.

The sites are among the 220 possible stores that Target is acquiring from Zellers, a $1.84 billion deal announced in January, reports Women’s Wear Daily. Target is expected to open 100 to 150 stores throughout Canada in 2013 and 2014.

VMSD Staff

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