REVEALED: Which Target stores will close in CQ
YEPPOON Target will be converted to a Kmart, but Rockhampton's store will survive as owners look to close 167 stores and rebrand 92 others as Kmarts.
The Yeppoon store is expected to be converted to a Kmart in early 2021.
Biloela, Emerald and Moranbah have been earmarked for closure early next year.
The announcement was made by the parent company Wesfarmers on Friday citing "the unsustainable financial performance of Target" in a note to investors.
"For some time now, the retail sector has seen significant structural change and disruption, and we expect this trend to continue," Wesfarmers managing director Rob Scott said.
"The actions announced reflect our continued focus on investing in Kmart, a business with a compelling customer offer and strong competitive advantages, while also improving the viability of Target by addressing some of its structural challenges by simplifying the business model."
The Australian said the timing came at a low point for many shopping centres as they sought to recover from the coronavirus pandemic.
Some locations may have to undertake radical change such as increased office space.