MOORESVILLE, S.C. — A home improvement retail chain, with a store in Waterloo, will close 51 of its stores in the United States and Canada, saying they were not profitable, the company announced Monday.
Lowe’s Companies Inc. will close 20 Lowe’s stores in the U.S. and another 31 in Canada. None of the closures are in Iowa, according to a company list.
The company said “the majority” of impacted stores are within 10 miles of another Lowe’s.
The stores will close by Feb. 1, 2019. Employees of affected stores could be transferred, the company said.
“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,” said Marvin R. Ellison, Lowe’s president and CEO, in a press release on the company’s website.
A full list of closures is here: https://newsroom.lowes.com/inside-lowes/lowes-store-closures-2018/