LOWE'S CLOSING CANADIAN RONAS BUT LOCAL LOCATIONS GOOD TO GO 11/6/2018 9:04:16 AM
Lowe's announced Monday that they're closing 51 stores across North America who are under-performing, in order to focus on the most profitable parts of its business. The stores will be all be closed by February 1st next year. Lowe's acquired Rona in 2016 for $3.2 billion. Of the 31 Canadian stores closing, 9 are in Ontario. If you're a local Rona customer you will not be impacted by the closings. Not included on the list are the local Ronas in Strathroy--Caradoc and Exeter, which are owned by independent company Moffat & Powell who operate under the Rona umbrella. The company owns and operates the Rona's in Southwestern Ontario. President of the Moffat & Powell stores Nancy Powell Quinn said it was surprising news, but you can breathe easy.
20 Rona Stores in the United States are also closing as a result of this decision.