Target have not yet announced store closings and official liquidation has not started, but they have made some changes in stores. Stores are no longer price-matching and many stores are already saying items are final sale. Some forum users mentioned that staff have said gift cards will not be accepted after February 1st despite their original promise to accept gift cards through liquidation.
They have also closed Starbucks in all Target stores. If you love Starbucks mugs and other items, they have been moved into the store so watch for them once liquidation starts!