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Lowe's Companies

Lowe’s Companies Inc. is closing 31 under-performing stores in Canada, and 20 in the United States.

The home retailers said on Monday that the latest closures are part of a restructuring.

The closure includes 27 Rona stores in Canada.

This includes nine stores in both Ontario and Quebue, six in Newfoundland and Labrador, two in Alberta and one in B.C.

Lowe’s has trailed Home Depot in sales for years and is already closing its Orchard Supply chain of 99 stores.

“The store closures are a necessary step in our strategic reassessment as we focus on building a stronger business,” said Marvin Ellison, Chief Executive Officer of Lowe’s.

Lowe’s Companies, which operates over 2,000 stores in North America, said the latest store closures would be complete by February.

In a statement, Lowe’s Canada told, “Everything will be done to ensure a smooth transition until the stores are closed, and all impacted employees will be supported by our HR team.”

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