Lowe's closes store in North Regina due to underperformance
REGINA -- The Lowe’s store in Northgate Mall will soon be shutting its doors as the company has announced the North Regina store is one of 34 underperforming stores being closed in 2020.
Lowe’s says the decision is part of a restructuring plan to ensure the long-term stability and growth of Lowe’s Canadian businesses. Adding the plan is to close all 34 stores by sometime in January or February.
The Lowe’s in south Regina will continue operating and is expected to take on eligible employees from the north location.
"I’m not too concerned about it. You don't want to see stores close of course, but the reason for this is a much bigger picture than Regina. Mayor of Regina Michael Fougere said.
In November 2018, Lowe's announced it was closing 31 Canadian locations, bringing the total to 65 since last year.
"This is a corporate decision by Lowe’s, it's not really a Regina based decision. And the reality is, is the fact that we've saved the store in Regina, in the south, and is very positive,” Regina & District Chamber of Commerce Chief Executive Officer John Hopkins said.
The Northgate Mall Lowe’s location opened in 2016. Mitchell Cohen with Westdale Construction Co. Limited, the owners of Northgate Mall, says they have been planning for a change in the market.
"With the retail environment in the flux that it has been in the last five to ten years, there is other opportunities. Again, we knew that this day could come," Westdale Construction Co. Limited Chief Operating Officer Mitchell Cohen said.
But Cohen says it’s too soon to commit to what will fill the space.
"There’s a plan to ensure that Northgate Mall continues to be a community shopping experience that it always has,” Cohen said.