01/15/2015 08:40 EST | Updated 01/15/2015 08:59 EST

Target Is Leaving Canada


Target is pulling out of Canada.

The Minneapolis-based retailer announced Thursday morning it has filed for creditor protection with the Ontario Superior Court of Justice,

"Personally, this was a very difficult decision, but it was the right decision for our company," Target CEO Brian Cornell said in a statement.

Target employs 17,600 people in 133 stores across Canada.

The company had racked up losses of $2.1 billion in the few years it was had operations in Canada.

More to come...