Lowe's to shut 51 stores across North America

Lowe's to shut 51 stores across North America

Lowe's to shut 51 stores across North America

The retailer announced it will close 20 stores in the United States and 31 in Canada.

The closures follow the shuttering of the company's Orchard Supply Hardware chain of 99 stores along with a slashing of inventory at other Lowe's locations. What's more, the closure of these stores isn't a portentous sign that the company will disappear from shopping centers across the country.

The company said most employees will be offered positions at stores within 10 miles of where they had worked.

The home improvement company is not the only retailer to close its doors in recent months.

Two New England stores, one in CT and one in MA, will close. Most associates at these stores will be extended opportunities to transition to a similar role at a nearby Lowe's store.

Lowe's now operates 2,390 home improvement and hardware stores, including 1,740 in the U.S. The majority of the Canadian stores set to close are under the Rona banner, a chain that Lowe's bought in 2016 for $2.3 billion.

"The village of Gurnee was not aware that Lowe's was closing prior to the media announcement today", said Jack Linehan, assistant to the village administrator in Gurnee.

"Having our operations under one roof will allow us to improve collaboration between our banners to better serve our customers", Lowe's Canada president and chief executive officer Sylvain Prud'homme said in a statement. The company said some Rona stores will also be closed in Canada early next year.

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