Target sells off interiors business
After shuttering its unsuccessful Canadian operation and laying off 1,700 headquarters employees this spring, Target Corp. has now dumped a subsidiary most people probably didn’t know existed.
The company is selling Target Commercial Interiors (TCI) to Minneapolis-based Omni Workspace Company/A&M Business Interior Services. TCI is a supplier of office furnishings and related services to the business and commercial sectors.
Terms of the transaction were not disclosed.
“Target Commercial Interiors has a rich history and a great track record with clients, but its business model is tailored to commercial customers,” said Target cfo John Mulligan, who added that the company is focused on its retail customers.
TCI will remain a vendor to Target, according to a company press release.
TCI was founded in 1953 as Dayton’s Commercial Interiors by The Dayton Company, a department store retailer that would launch the Target discount nameplate in 1962. When the parent company became Target Corp. in 2004, the interior business changed its name.
Source: Home Textiles Today