Lowe in the UK has announced that it will close its hardware store in Edinburgh, as it tries to reduce its workforce.
The company said in a statement that it “cannot continue to operate at the scale we have at present”.
It will also focus on “building a more sustainable future for the local community” and “increasing local supply chain sustainability”.
The move comes a week after Lowes stock plunged by over 80 per cent as the company announced it would be closing its hardware and accessories store in the city.
The news comes a few months after the company said it was closing its stores in Leeds, Sheffield, Bristol and London.
A spokeswoman for Lowe’s UK said that the store had “always been a valued partner for the UK” and that it would “continue to serve the community in the long term”. “
We expect to open our next store in 2019.”
A spokeswoman for Lowe’s UK said that the store had “always been a valued partner for the UK” and that it would “continue to serve the community in the long term”.
Lowe has previously closed stores in Newcastle, Leeds and Nottingham.
It was not immediately clear if this was the first time the company had closed a hardware store.
Earlier this year, the company also said that it was shutting down its hardware stores in Bristol, Sheffield and Leeds.
Lowe’s Hardware store in Bristol has closed after its stock plummeted in 2017 (Getty) Lowe’s hardware in Bristol (Getty Images) Lowe has been criticised by a range of companies, including Apple, Microsoft and Twitter.
In June, the retailer said that its hardware had fallen by over 8 per cent in the first three months of 2017, with more than 2.3 million orders and more than 80 per,000 employees affected.
The retailer said it would have to close its doors for “the next few months”, and it said it “can’t afford” to pay staff and pension costs, as well as “costs associated with the global disruption of Brexit”.
In December, Lowe’s announced that its shares would be delisted from the S&P 500.
It also said it planned to lay off more than 1,000 staff, but this was later postponed.
Lowe also said in December that it planned on cutting its workforce by “several hundred” people by the end of 2018.