November 6, 2018

Lowe's 11 stores in Maine escape closure

Lowe's announced on Nov. 5 it will close 51 of its underperforming home-improvement stores in the United States and Canada. None of them are in Maine.

Lowe's Cos. Inc. (NYSE: LOW), based in Mooresville, N.C., said in a news release the majority of impacted stores in the U.S. are located within 10 miles of another Lowe's store.

None of Maine's 11 Lowe's stores appear on the list of planned closures posted online on Monday.

"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. "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."

Lowe's expects to close the impacted stores by the end of the company's 2018 fiscal year, Feb. 1, 2019. The company has partnered with Hilco Merchant Services to help manage the process in the U.S.

Maine stores that escaped closure

Lowe's has 11 stores in Maine, according to the company's website. None are targeted for closure.

Here are the locations of the Maine stores: Auburn, Augusta, Bangor, Brewer, Brunswick, Portland, Presque Isle, Sanford, Scarborough, Thomaston and Windham.


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