November 6, 2018

Lowe's to close Orange location

Photo Contributed
Photo Contributed

As part of a nationwide downsizing, home-improvement retailer Lowe's will shut down its location at 50 Boston Post Rd. in Orange on Jan. 13, according to a store representative.

The Orange store was one of 20 underperforming locations nationwide to be shuttered as the North Carolina-based company shifts strategy to focus on its most profitable stores, according to a statement.

"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 Lowe's CEO Marvin R. Ellison.

Most of the stores to be closed are within 10 miles of another Lowe's, and most workers will be offered jobs at other locations, the company added. In addition to the U.S. locations, Lowe's said it would close 31 stores in Canada.

Lowe's stores remaining open in the New Haven area include locations in New Haven, Derby and the Lowe's at 311 Old Gate Lane in Milford.

According to town of Orange tax records, Lowe's Home Centers Inc. bought the 15.37-acre parcel on the Post Road in 1997; the 130,456-square-foot building and the land was most recently valued at $11.6 million, in 2017.

The retail strip along the Boston Post Road in the Milford-Orange corridor has recently seen closing announcements for two Mattress Firm stores and the Milford location of Sears, an anchor of the Connecticut Post Mall.

"Large-box retailers continue to be hard hit by dramatic changes in how consumers are shopping for goods, particularly products that can be bought and sold over the internet," said Fred McKinney, director of Quinnipiac University's People's United Center for Innovation and Entrepreneurship. "I fully anticipate other large chain retailers to continue this trend of store closures and consolidations."

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