Is Lowes going out of business? Whether you are a professional or just a DIY enthusiast in home improvement, you definitely must have heard about Lowe’s. This is a brand that has been a beacon of hope to many home improvement lovers over the years.

Yet, whispers and worried conversations have begun to emerge among Lowe’s dedicated followers. Many are presently asking, ‘Is Lowes going out of business?’

This wave of speculation was triggered by the company’s recent announcement to shutter multiple stores, sending shockwaves through its loyal customer base. If you too find yourself tangled in this web of uncertainty, wondering about the future of this retail giant, you are in the right place.

We will take a closer look to help you discover the truth about the current situation of Lowe’s. is Lowe’s going out of business? You are about to find out!

A Closer Look at Lowe’s

We know you are eager to know whether Lowe’s is going out of business or not. But before we go ahead to address the elephant in the room, we think it will be more appropriate to first pause and get to know about Lowe’s and its place in the home improvement industry. If you are getting to hear about the brand for the first time, this will be especially useful for you.

Lowe’s, a household name in the home improvement industry, began its journey back in 1946. What started as a modest hardware store has blossomed into a multinational home improvement titan we recognize today.

Over the years, the brand has carved out a niche for itself by offering an extensive array of products that cater to a wide range of needs in the industry, from the smallest gardening tool to the most advanced home appliances. You would hardly walk into a Lowe’s store and leave without getting exactly what you need for your home.

With a legacy stretching over 75 years, Lowe’s has cemented its reputation on the pillars of quality, service, and unparalleled value. The brand has spread its wings across the U.S. and into Canada, becoming a go-to destination for homeowners and builders alike.

However, the company’s recent decision to close all its stores in Canada and select locations in the U.S. has sent ripples of concern, and indeed, panic, through its loyal customer base. With this move, the question now on everyone’s mind is, ‘Is Lowe’s going out of business?’

Is Lowes Going Out of Business?

Amid the swirling rumors and growing concerns regarding Lowe’s future, the straightforward answer to the question of whether Lowe’s is going out of business or not is a resounding no.

Despite the recent trend of store closures, Lowe’s is far from waving the white flag of surrender. In simple words, Lowes is not going out of business. Instead, what we’re witnessing is a strategic recalibration of Lowe’s business operations.

In an intriguing twist, Lowe’s recently made a bold move towards reshaping its business model instead of opting for a complete shutdown. The company made headlines with its decision to hand over its Canadian operations to Sycamore Partners, a well-known private equity firm.

This transaction, valued at $400 million in cash plus additional future payments contingent on performance, marks a significant pivot in Lowe’s business strategy and the deal was finalized towards the end of last year.

Marvin R. Ellison, the CEO of Lowe’s, has been clear about the intention behind these moves. Rather than a sign of defeat, these changes are part of a broader strategy to refine and focus Lowe’s business model.

This decision to sell and close certain locations is about optimizing what Lowe’s does best, ensuring its longevity and success in the competitive home improvement market.

So, when faced with the question, “Is Lowe’s going out of business?” your answer should be a definite no. Lowe’s is not bowing out yet but is strategically adjusting to serve its customers better, even in the competitive market.

So, Why is Lowe’s Closing Stores?

Now that you know that Lowe’s is not going out of business, the next question that would likely be in your mouth would be ‘Why then is it closing many stores at the same time?’

Well, many factors contribute to the recent move by the brand to shutter many of its stores – both in the U.S. and Canada. About 51 stores of Lowe’s were closed down in 2023, with 20 in the U.S. and 31 in Canada.

While this raised concerns among the brand’s loyal customers, Lowe’s has come out to state the reasons behind the closures. It said the move was based on an extensive evaluation of the company’s vast retail portfolio.

One thing that was clear is that many of these stores were located within a 10-mile radius of another Lowe’s store. Of course, this could lead to some kind of overlapping and internal competition. So, Lowe’s decided to close down some of these stores to better reposition itself in the competitive market.

What this means for most Lowe’s customers is that they may now need to drive slightly longer to the nearest Lowe’s store.

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RONA Acquired Lowe’s in Canada

A notable twist in the narrative of Lowe’s presence in Canada is the transition of its stores to operate under the RONA brand, another giant in the Canadian home improvement market.

This strategic shift, as detailed by Lowe’s in its official statement, is designed to unite under a brand that has been a familiar face to Canadian customers for more than eighty years. The essence of this transition is to leverage RONA’s longstanding reputation and deep-rooted customer trust, ensuring a seamless experience for shoppers.

For customers loyal to Lowe’s, this changeover to the RONA branding might come as a surprise during their next visit. However, the underlying message is one of continuity and commitment. Lowe’s has assured that the transition will not affect the shopping experience, with all existing warranties and service agreements being fully honored under the RONA name.

This move is not about erasing Lowe’s legacy but rather about embracing and integrating within a brand that resonates deeply with Canadian consumers.

So, when you notice the RONA sign where Lowe’s used to be, rest assured, it’s the same company dedicated to serving your home improvement needs, just with a different name on the facade. So, instead of asking, ‘Is Lowes going out of business?’ just go in and get everything you need for your home improvement endeavor.

Is Lowes Going Out of Business – Final Note

Now you see that the present rumor circulating about Lowe’s going out of business is just a mere rumor. While Lowe’s decided to shut down many of its stores across the U.S. and Canada in 2023, that doesn’t signify the end of the road for the company.

Lowe’s has stated that the move is more strategic than a sign of termination. So, if you have also been harboring the question, ‘Is Lowes going out of business?’ in your mind, it’s time to let it go because the answer is a resounding no!

FAQs

Who Bought Lowe’s?

No entity has bought out Lowe’s entirely; the company remains independently operated and is publicly traded on the New York Stock Exchange (NYSE) under the symbol “LOW”.

While there has been strategic business maneuvering, such as the sale of its Canadian operations to Sycamore Partners, Lowe’s as a whole maintains its independence and continues to serve its customers across the United States and other locations.

Is Lowe’s Bankruptcy Rumor True?

The rumors about Lowe’s filing for bankruptcy are not true. Lowe’s continues to operate as a robust entity, focusing on optimizing its store operations and enhancing its market presence.

The company’s strategic decisions, including store closures and the sale of its Canadian business, are aimed at streamlining operations and are not indicative of financial distress leading to bankruptcy.

Did Walmart Buy Lowe’s?

There is no truth to the speculation that Walmart has acquired Lowe’s. Both companies operate independently in their respective sectors, with Lowe’s focusing on home improvement and Walmart on general retail. Each company continues to grow its brand and serve its customer base without any ownership overlap.

Who Owns the Most of Lowe’s?

As a publicly traded company, Lowe’s is owned by many shareholders, including institutional investors, mutual funds, and individual stakeholders. The largest portion of Lowe’s is owned by institutional investors, with The Vanguard Group, Inc. being the largest shareholder, holding approximately 9.1% of the shares outstanding.

Can I Still Buy Home Improvement Products at Lowe’s?

Absolutely, Lowe’s continues to be a leading destination for home improvement products. Despite the strategic closure of some stores, Lowe’s remains committed to offering a wide range of home improvement items.

From appliances and tools to garden supplies and fixtures, Lowe’s is still selling across its remaining stores and online platforms.