Brockville – Lowe’s Canada announced today that they will be closing 34 underperforming stores across the country including Rona in Brockville & Lowe’s in Cornwall, the only closures in Eastern Ontario.
A total of 26 RONAs, 6 Lowe’s, and 2 Reno-Depots will be closed across the country. Both Rona Brockville and Lowe’s in Cornwall are set for closure on January 31, 2020
In a press release sent out today, Lowe’s Canada said following a detailed strategic review of its operations, Lowe’s Canada is announcing the following actions to improve performance and better position itself for the future:
- Closing 34 underperforming stores to optimize its network;
- Undertaking a process to simplify multiple store banners to drive efficiency and reduce operational complexity;
- Reorganizing the corporate support structure across the country to better support store and customer needs; and
- Rationalizing the product assortment to present a more coordinated offering to Canadian customers.
“While making decisions that impact our associates and their families is never easy, closing underperforming stores is a necessary step in our plan to ensure the long-term stability and growth of our Canadian business,” said Tony Cioffi, Interim President of Lowe’s Canada in the press release. “We are taking decisive action to build a healthy business which will provide us with the flexibility to reinvest in our future growth. This includes having a clear strategy for our banners, built on the strength of our Lowe’s, RONA and Reno-Depot brands. It also means investing in our omnichannel and supply chain capabilities, our web platforms, and our existing corporate stores and affiliated dealer network. Our objective continues to be providing our Canadian customers with the right products and the best service and value across every channel, for the long term.”
No numbers yet on how many jobs will be affected but Lowe’s say tha employees affected by these changes will be supported throughout the transition and eligible employees will be offered the opportunity to transfer to a nearby store.
The current closures come just one year after Lowe’s announced it was shutting down 31 Canadian locations.
RONA stores are facing the brunt of the closures. 26 of the 34 announced closures are RONAs. North Carolina-based Lowe’s had purchased RONA in 2016 in a deal valued at $3.2 billion.