American retail giant Target is closing all stores in Canada, including its Cranbrook location, after the company filed for protection from creditors this morning (Jan. 15) in Toronto.

Operational in Canada for less than two years, the decision to close the troubled stores means about 17,600 employees will be out of work at 133 stores across the country.

The Companies’ Creditors Arrangement Act allows corporations that cannot pay debts to restructure before those it owes money to begin seizing assets.

Like in Cranbrook, most Target stores in Canada replaced Zellers operations.

The company has stated it hopes to provide up to 16 weeks of severance pay for employees and the stores will remain open until the company completes the liquidation process.

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