Lowe's closes in Biddeford, Ellsworth
National home improvement retailer Lowe's is closing its stores in Biddeford and Ellsworth as part of a nationwide downsizing.
The company last night shut down 10 underperforming stores, including the Biddeford location, with plans to shutter another 10 next month, according to the Bangor Daily News. It's unclear how many employees were affected by the Biddeford closure. The Ellsworth store is expected to close Nov. 13, and 80 full- and part-time workers will lose their jobs, though they will be eligible for available jobs at other Lowe's locations. The North Carolina-based company will trim a total of 1,950 jobs in 15 states.
Lowe's President and CEO Robert Niblock said the closures are "necessary to improve profitability and strengthen our financial position." Three stores in New Hampshire, one in Massachusetts and another in Rhode Island are also closing. The company, however, is still planning to open about 25 stores this year, but reduced the number of stores it will open annually starting in 2012 to 10 to 15.
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