Cambridge RONA among 34 stores to close across Canada
CAMBRIDGE – The Home & Garden RONA on Pinebrush Road will be closing its doors early in the new year.
Lowe’s Canada announced on Wednesday they will be shutting down 34 ‘underperforming stores’ across the country.
The Cambridge RONA is set to close up on January 31, 2020 along with 25 others in British Columbia, Alberta, Saskatchewan, Quebec, Nova Scotia, and Ontario.
The company says they will offer eligible employees affected by the changes to transfer to a nearby store.
A Lowe’s Home Improvement store is located on the other side of Pinebush Road from the RONA.
"There were some strategic missteps in the case where you're speaking about, a Lowe's right next to a Rona, where they began to cannibalize their own business, and that was a strategic mistake on the part of management," explains University of Guelph business and economics professor Nita Chhinzer.
Six Lowe's locations and two Reno-Depots are also among the stores being closed.
The closures come following an announcement of 31 locations being shut down in November of last year.
North-Carolina-based Lowe’s bought Rona in 2016 at a deal valued at $3.2 billon.
The Canadian division of Lowe’s has more than 600 corporate and independent affiliate stores under the Lowe’s, Rona, Reno-Depot, Ace and Dick’s Lumber brands.
With reporting from The Canadian Press.