It’s been a tough day for international companies with Canadian locations. Less than 12 hours after Target announced it will be ceasing Canadian operations, Sony announced it’s doing the same. The shuttering will take place over the next six to eight weeks.
The impact will be a little smaller than Target’s imminent closure, however — just 15 Sony stores are left in Canada, which will result in about 90 job losses. There are currently six locations in the Greater Toronto Area, three in the Greater Vancouver Area, three in Alberta, and one each in Ottawa, Montreal and Quebec City.
In a statement, the company encouraged Canadians still interested in Sony products to purchase them via third-party sellers or online.
Sony will also reach out to previous Sony store customers to let them know about warranty and technical support options.
Sony has been in financial trouble for some time now. Reports have it considering selling off or forming a joint venture for its TV and smartphone divisions among weak sales.
Sony is predicting a loss of nearly $2 billion for the business year to March and has apparently cut its economic forecast six times under the watch of CEO Kazuo Hirai. Last year, Sony sold its VAIO PC division and spun its TV arm into a separate company.
