Lowe's is feeling the effects of the brick-and-mortar meltdown

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• Orchard Supply Hardware, owned by Lowe’s, will close 98 stores and laid off 4,000 employees since Thursday.
• Lowe’s paid $205 million in cash for the acquisition of Orchard in 2013.
• Sales are shifting to the internet. 

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Orchard Supply Hardware – whose mission was, according to its site, “to be America’s neighborhood hardware and garden store focused on paint, repair, and the backyard” – is an iconic name in California going back to the Great Depression when it started as a non-profit co-op to supply farmers. But now it’s scheduled to die.

Its 98 stores in California, Oregon, and Florida will be closed, along with its distribution center in Tracy, California. Its 4,000 employees will be let go. Liquidation sales start Thursday.

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