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MINNEAPOLIS — Target Corp. this month completed its inventory liquidation in Canada and closed the last of its 133 stores north of the border.
Target Corp. this month completed its inventory liquidation in Canada and closed the last of its 133 stores north of the border.
Also shuttered were Target Canada’s three distribution centers and its Mississauga, Ontario, headquarters.
Liquidator-led fixture sales will continue in some locations. The company has been winding down its operations since January 15, when it obtained a bankruptcy judgment.
"We are pleased with the results of the liquidation sales to date and the speed at which we have moved through the wind-down process," said Target Canada chief executive officer Aaron Alt.
A court-approved real estate sales process is under way, and it is expected to be completed by the end of June.
In the United States, Target was expected to raise its minimum wage to $9 an hour, keeping its pay competitive with that of Walmart and TJX Cos.
The move comes amid calls from unions and other labor advocates for a "living wage" at retailers and fast-food chains, as well as a tightened employment market. It follows Walmart’s announcement that it would institute the $9 minimum in April, with an increase to $10 next year. A week after Walmart’s March announcement, TJX, the owner of T.J. Maxx and Marshalls, said it would raise its minimum to $9.
Target executives had said they would seek to be competitive on wages, but suggested they would make changes based on local conditions. Chief financial officer John Mulligan said paying a $9-an-hour minimum in booming North Dakota, for instance, would not boost the workforce.
