August 22, 2018 / 10:58 PM / a year ago

Lowe's closing Orchard Supply chain acquired in bankruptcy

Home improvement retailer Lowe’s Companies Inc said on Wednesday it expects it will shut all of the Orchard Supply Hardware stores it acquired out of bankruptcy five years ago and focus on its core business.

Lowe’s in a statement on its quarterly earnings said it decided on Friday to wind down the Orchard Supply chain, which has 99 stores in California, Oregon and Florida, and that it has taken on liquidator Hilco Merchant Services to help with store-closing sales.

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