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Industry: Email Alert RSS FeedOffice superstores to take hit in 2001 - Brief Article
DSN Retailing Today, Nov 20, 2000
DELRAY BEACH, FL. AND SHAKER HEIGHTS, OHIO -- Office Depot will announce plans to close an undetermined number of its 863 U.S. and Canadian Stores in early January when it hosts a conference call to discuss results of a comprehensive business review. Office-Max said it will close 50 of its 1,000 stores. Analysts expect that more stores will need to be closed.
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The companies suffered from aggressive expansion that led to poor real estate decisions, coupled with the spending slowdown that has affected virtually every retail sector.
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