Loblaw Plans Store Closings, Conversions

TORONTO - Loblaw Cos. here will close 19 stores under the Provigo banner and 24 cash-and-carry wholesale outlets as part of a "formula for growth" outlined by its new management team in a quarterly conference call yesterday. Loblaw also said it would expand 44 of its grocery stores in Ontario to its Real Canadian Superstore concept. The company said it would take a charge of $35 million to $40 million (U.S.) to cover closing expenses at Provigo, and $11 million to $13 million from the warehouse store closures.

TORONTO - Loblaw Cos. here will close 19 stores under the Provigo banner and 24 cash-and-carry wholesale outlets as part of a “formula for growth” outlined by its new management team in a quarterly conference call yesterday. Loblaw also said it would expand 44 of its grocery stores in Ontario to its Real Canadian Superstore concept. The company said it would take a charge of $35 million to $40 million (U.S.) to cover closing expenses at Provigo, and $11 million to $13 million

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