Lowe's to shut 51 underperforming stores in US, Canada

Lowe's to shut 51 underperforming stores in US, Canada

American hardware giant Lowe's announced on Monday it would be closing 31 "underperforming stores" in Canada - nine of them in Quebec.

Lowe's opened its Northern Avenue location in 2015 after renovations were completed on the former Zellers spot. None of the US stores to close are in the Carolinas, according to the list posted on Lowe's website.

Lowe's also plans to close its regional support centres in Mississauga, Ont., and St. John's, N.L., as well as a truss plant in St. John's, N.L., and a block plant in Kamloops, B.C.

The closures are a part of the company's ongoing reassessment of their stores. The majority of impacted stores are located within 10 miles of another Lowe's store.

The company says some of the affected workers will be offered positions at other Lowe's stores.

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Only one store in Texas is closing, the location at 3500 W. Airport Fwy in Irving.

Lowe's is closing more than 50 underperforming stores - including one in MA - by February of 2019.

"The store closures are a necessary step in our strategic reassessment as we focus on building a stronger business", Ellison said in a statement.

To facilitate an orderly wind-down, the company said it intends to conduct store closing sales for most of the impacted locations with the exception of select stores in the US, which will close immediately.

The U.S. retailer acquired Rona Inc.in Canada in 2016 in a deal valued at $3.2 billion.

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