By Tux Turkel tturkel@mainetoday.com
Staff Writer
Staff Writer
Sunday's abrupt closing of the Lowe's home improvement
stores in Biddeford and Ellsworth is the latest example of national
retailers pulling the plug on underperforming outlets in small markets,
local real estate professionals say.
An unidentified store employee today
directs vendor David Lamb of Blue Rock Industries to a back entrance at
the now-closed Lowe's in Biddeford.
John Patriquin/Staff Photographer
The Lowe's stores in Biddeford and Ellsworth were anchor
tenants clustered in and around so-called power centers, part of a fresh
wave of big-box retail development that washed across Maine just prior
to the 2008 economic collapse. Both were located across from existing
Home Depot stores.
Lowe's may have been especially hard hit by the ongoing malaise in
housing and construction, commercial brokers say. But they also note
that the big retailers anchoring power centers in Maine's smaller
markets such as North Windham, Augusta and Waterville, also may be under
pressure.
"Some got built," said Drew Sigfridson, a broker at CB Richard
Ellis/The Boulos Co. "In hindsight, maybe some shouldn't have been
built."
Lowe's announced today that it's closing 20 underperforming stores in
15 states, throwing 1,950 people out of work. They will receive pay and
benefits for 60 to 90 days, according to Lowe's.
A total of 101 workers lost their jobs at the Biddeford store,
according to city officials. They have asked laid-off workers to contact
the mayor's office for help connecting to assistance. A City Hall
meeting is being planned for later this week.
Customers arriving at the Lowe's in Biddeford early today were surprised to find the store closed.
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