 A U.S. company, Land & Buildings Investment Management, the owner of over 6 per cent of the shares, had also criticized the Baker plan.In September 2011, the HBC began downsizing the Zellers chain with the announcement that it would sell the majority of the leases for its locations to the U.S.-based retailer Target Corporation and close all of their remaining locations by early 2013.Target used the acquisition of this real estate as a means to enable its entry in the Canadian market.