Brockville Rona to close

Lowe's raises profit forecast shares gain

A Lowe's retail store is shown in Carlsbad CaliforniaMore

Lowe's Canada announced the closure of 34 stores across Canada, including one in Thunder Bay. The Lowe's store in Harbour Landing will remain open, and according to the release, eligible employees will have the opportunity to transfer to a nearby store "given the existing need for personnel" nation-wide across the company.

Lowe's Canada will be closing 34 "underperforming" stores in 2020.

North Carolina-based Lowe's bought Rona in 2016 in a deal valued at $3.2 billion.

Lowe's Canada has made a decision to close a number of "underperforming" stores across Canada, including a location in Cambridge.

The closures will affect 26 RONA locations, six Lowe's stores and two Reno-Depot brands.

Lowe's Canada will begin simplifying multiple store banners to be more efficient, reorganizing corporate supports across Canada to better support customer needs and offering Canadian customers a better assortment of products.

"We are taking decisive action to build a healthy business which will provide us with the flexibility to reinvest in our future growth".

Quebec and Ontario lead the back with 12 and nine stores closing in the provinces respectively.

Stores will close on either January 31, 2020 or February 19, 2020.

About 100 employees at the Boucherville head office and a second Montreal-area office will also face layoffs, on top of about 30 employees in administrative positions across the rest of Canada, Lowe's Canada said in an email.

He drew parallels to Target's trumpeted arrival in Canada in 2013, which was followed by meagre sales and the closure of all 133 stores less than two years later.

It is unknown at this time how many employees in Brockville will be affected by this closure.

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