TORONTO, March 25, 2020 /CNW/ - Leon's Furniture
Limited ("LFL" or the "Company")
(TSX: LNF), today announced the
following:
LFL is in the process of adjusting its retail operations in
response to the global COVID-19 pandemic. After thoughtfully
considering the well-being of its employees and customers, and in
response to changes in the marketplace, the Company has made the
difficult strategic decision to temporarily close 72 of its 205
corporate retail locations across Canada. As a result of these closures, and in
order to adjust to significant changes in overall customer traffic,
the Company has also made the very difficult decision to
immediately layoff approximately 3,900 valued employees on a
temporary basis, representing approximately 50% of its current
total workforce.
As always, LFL is committed to its valued employees and will be
enhancing the employment insurance benefits available to impacted
employees with supplemental payments from the Company. In addition,
LFL will extend Company paid benefits to these individuals.
Leon's Furniture, The Brick, Appliance Canada and Midnorthern
Appliance will continue to serve Canadians by providing essential
products for the home both through open physical locations and
online, through leons.ca, thebrick.com, furniture.ca, and
appliancecanada.ca. LFL will maintain its offering of repair and
installation services for the home to its loyal customers, through
transglobalservice.com. The Company will continue to make
responsible adjustments to its business practices as the situation
continues to evolve.
About Leon's Furniture Limited
LFL is the largest retailer of furniture, mattresses, appliances
and electronics in Canada. Our
retail banners include: Leon's; The Brick; The Brick Mattress
Store; and The Brick Outlet. Finally, with the Midnorthern
Appliance banner alongside the Appliance Canada banner, we are also
the country's largest commercial retailer of appliances to
builders, developers, hotels and property management companies. LFL
has 304 retail stores from coast-to coast in Canada under various banners. As well, the
Company operates three e-commerce
sites: leons.ca, thebrick.com and its newest
site, furniture.ca.
SOURCE Leon's Furniture Limited