And yet, the store was empty. Management confirmed all this when they took a hard look at the company's operations. According to the press release, Target confirmed that based on what management termed as "realistic expectations," it's Canadian stores wouldn't be in a position to break-even until 2021 at the earliest. Rather than pouring more billions into Canadian operations that have already lost close to $2 billion, the company pulled the plug and filed for bankruptcy protection in Canadian courts. Now that Target has officially announced it's leaving Canada, how should investors play this? Personally, I think there's an obvious option — Hudson's Bay Co (TSX:HBC). Hudson's Bay has a history with almost all of Target's locations, since it was the company that sold Target the leases in the first place, killing the Zellers chain in the process. If anyone knows the pros and cons of each of those spots, it's Hudson's Bay management. Plus, Hudson's Bay can easily bring back the Zellers brand.