Rona Inc. will close 11 unprofitable stores in two provinces and lay off almost 1,000 sales and administrative staff as part of its ongoing cost-cutting and restructuring efforts, the Quebec-based home improvement retailer announced Thursday.
Eight of the stores are in Ontario and three are in British Columbia.
The three B.C. stores — in Duncan, Kamloops and Abbotsford — will close in October. Six Ontario stores in Mississauga, Windsor, Woodbridge, London, Huntsville, and Collingwood, Ont., will also close in October and two Ontario stores in Toronto and Aurora will close in December.
Around 800 mostly part-time staff at those stores will lose their jobs the company said.
More administrative cuts
Rona will also cut 125 jobs in four administration centres across Canada. About 30 per cent of those cuts will be in Boucherville, Que. Those job losses are in addition to the 200 administrative layoffs that were announced in February.
"With the measures announced today, Rona will become more agile and efficient, with a simplified business structure and an even stronger balance sheet," said Robert Sawyer, Rona's president and CEO.
"By focusing on our strategic operations, we will unlock the full potential of our network and reinvest a significant share of the savings in initiatives that will allow us to offer even more to our customers and to our affiliated and franchised dealers."
Last week, Rona announced plans to sell its commercial and professional market division for about $215 million.
The company is aiming to reduce annual operating expenses by $110 million, but it will record up-front costs and accounting measures in its second quarter.
Rona says it will record $220 million of adjustments related to the restructuring during the quarter, of which $195 million will be non-cash items.
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