(Best Syndication News) – Lowes Companies, Inc. (NYSE:LOW) announced today the closure of 20 stores in 15 states. These stores were under-performing. Ten of the stores are already closed at the end this Sunday, October 16, 2011. The remaining stores will be closed in around the next month.
The store closures will cause 1,950 employees to be out of a job. The company said that these employees would get 60- 90 days worth of pay and benefits. The company will work with local government agencies to help the displaced employees.