Lowe’s Closing 34 Stores

Lowe's home improvement store

CBJ — American hardware store chain Lowe’s is closing 34 of its 67 Canadian outlets due to a drop in revenue at what the company describes as under-performing stores.

In addition to owning the 67 stores the parent company in the U.S. also has 21 Réno-Dépôt stores and about 400 Rona outlets, as well as 100 stores under various names.

Quebec is the hardest hit province, with 12 locations being shuttered. Nine stores will be shut in Ontario, six in Alberta, three in Nova Scotia, three in British Columbia, and one in Saskatchewan.

Lowe’s purchased Rona for $3.2 billion in 2016 but chose to keep the brand name.

It’s expected the stores will close at or about the beginning of February.

@CanBizJournal

 

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