Home improvement retail giant Lowe’s has announced it will close 31 locations — mostly under the Rona banner — in Canada.
In a release, the company said the stores being closed are under-performing.
“While decisions that impact our associates are never easy, the store closures are a necessary step in our strategic reassessment as we focus on building a stronger business,” Marvin R. Ellison, Lowe’s president and CEO, said in a statement.
“We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe’s stores.”
Three stores in the GTA have been marked for closure: two Rona locations in Mississauga and the Lowe’s at Centrepoint Mall.
In total, there are 31 sites that are closing: two regional support centers, a truss plant, a block plant and 27 stores. Within those 27 stores there are 24 RONA stores, 1 Reno-Depot store and two Lowe’s locations.
Lowe’s said is expects to close the impacted stores by the end of the company’s 2018 fiscal year — Feb. 1, 2019.
There has been no word on how many jobs will be lost due to these closures.
In addition to the 31 Canadian locations, Lowe’s is also planning to close 20 locations in the United States.
It was just over a year ago that Lowe’s bought fellow Canadian home improvement retailer Rona.
For a complete list of locations in the U.S. and Canada that will be closing, click here.
The story above was updated to reflect incorrect information related to the Canadian closures.