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Another warehouse retailer has crumbled in the face of competition from big-box discount rivals.

XS Cargo Co. of Mississauga, Ont. began its final liquidation sale over the weekend and will close its 50 stores in eight provinces across Canada after making a failed bid to restructure this summer.

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It follows the demise last December of Big Lots’ Canadian operations, which operated 78 stores across the country, including 73 under the Liquidation World banner.

XS Cargo, which carried a similar lineup of goods such as housewares, home décor, home electronics and furniture, filed a notice to restructure under Canada’s Companies Creditors Arrangement Act on July 30, reporting assets of approximately $15.8-million and liabilities of $18.7-million. It owed $7.4-million to its unsecured creditors.

In its filing, the retailer’s trustee PWC made a pointed reference to Target’s entry into Canada, which appears to have pushed XS Cargo to a breaking point as it lowered prices to compete head-on with Walmart Canada.