Lowe’s Closing Underperforming Stores
Yesterday the front page of our local paper announced that our local Lowe’s Store was closing on November 13. The news comes as Lowe’s announces that they are closing 20 underperforming stores around the country. Of those 20 stores 3 are located here in New Hampshire. The list includes the following:
|Los Banos, CA||Biddeford, ME||Old Bridge, NJ|
|Westminster, CA||Ellsworth, ME||Batavia, NY|
|Denver, CO||Ionia, MI||N. Kingstown, RI|
|Aurora, IL||Rogers, MN||Emporia, VA|
|Oswego, IL||Claremont, NH||S. Tacoma, WA|
|Chalmette, LA||Hooksett, NH||Brown Deer, WI|
|Haverhill, MA||Manchester, NH|
More than half of the list is here in the Northeast where the building and remodeling industry is still in the dumps. I’m not overly surprised by the local closing as the store only opened 18 months ago adjacent to a local Home Depot that’s been in the area for close to 10 years. Our rural area just can’t support two large Box Stores especially considering we have a large lumber supply company that 95% of contractors use on a regular basis.
The sad part is the 85 employees who will be losing their job in the coming month. It’s hard to imagine what use the building could have if someone were to buy the property. Hopefully that will happen and bring much needed jobs to the area.