The Zellers brand was largely discontinued in 2013 when Target completed its acquisition of the majority of the Canadian discount retailer's store leases. As of July 2015, two Zellers stores remain open in Ontario as liquidation centers for its parent company Hudson's Bay and subsidiary Home Outfitters.
Following increased competition from Walmart, Zellers experienced significant financial losses in the mid-2000s in spite of management changes and revitalization efforts. In early 2011, Target announced its entry into the Canadian retail market with the sub-leasing of 220 of the 273 Zellers locations. At the time, Hudson's Bay announced that it would continue to operate a majority of the remaining loations as Zellers stores. However, in 2012, the company decided to close the remainder of its Zellers locations with the exception of select locations that would be repurposed as long-term liquidation centers.