Lowe's to close 51 stores, including 2 in Chicago area

Dwayne Harmon
November 6, 2018

American hardware giant Lowe's announced on Monday it would be closing 31 "underperforming stores" in Canada - nine of them in Quebec.

Both Michigan stores slated to close are located in Genesee County: Lowe's of Burton (Store #761), on E. Court St.in Burton; and Lowe's of Flint (Store #669) on T.A. Mansour Blvd., in Flint Twp.

Ellison told investors in August that the smaller OSH stores were not running well and could never become a big part of Lowe's overall business. Most associates at these stores will be extended opportunities to transition to a similar role at a nearby Lowe's store.

Most affected USA stores are located within 10 miles of another Lowe's, the company said.

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Lowe's said the 51 stores will close before February 1.

Store closing sales will occur at most of the affected locations, with exception of select stores in the US, which the company said will close immediately. It did not identify which stores those are. Some of those retailers like Toys "R" Us, Mattress Firm and Sears have filed for bankruptcy, and have already closed hundreds of locations stores. Twenty U.S. stores are also be closing. Lowe's has partnered with Hilco Merchant Services to help manage the process in the US and ensure a seamless experience for customers. "Now, this will mean people will have to drive a bit further to find a Lowe's or a Rona store".

To catch up, Lowe's has been working to slash costs and boost profits in recent years.

The company will announce third-quarter earnings on November 20.

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