Tweet

16 Office Depots To Close Doors By Year's End

By Alan Wolf -- TWICE, 9/19/2005

DELRAY BEACH, FLA. — Office Depot is closing 16 underperforming stores this quarter and next.

According to a filing with the Securities and Exchange Commission, the decision stemmed from a regular review of its stores' performance and future prospects. The office supply chain did not disclose the locations of the targeted stores in order to allow time to notify affected employees and landlords.

The closings will cost Office Depot $30.1 million in lease obligations, asset write offs, inventory clearance and severance costs, and it will leave the chain with just under 1,000 retail stores in North America.

The company also disclosed that it will consolidate its Viking catalog into its Office Depot catalog business by year's end, and will close a dedicated Viking warehouse and certain call centers in the process.

Tweet

Talkback

We would love your feedback!

Post a comment

» View All Talkback Threads

Related Content

• Topics
• Author

No related content found.

Also by this author

• Best Buy's Mikan Talks Tough Love

• Best Buy Q1 Profits Fall 26%

• Nebraska Furniture Mart Lauded For Dallas Development

• Lowe's Posts Higher Q1 Sales, Earnings

• Best Buy Picks Global Firm For CEO Search

» MORE

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• Brightpoint

  

  BrightPoint is a global leader in mobile device lifecycle services. We provide a full suite of end-to-end supply chain and customization solutions to manufacturers, retailers and carriers in the mobile device industry. In a world that is increasingly connected with ever-evolving ..more

---

Most Recent Resources

• The Impact of Enhanced Content on Online Retail Sales
• Device Lifecycle Services
• Bicycles & eCommerce
• Benchmark Study of Shopatron Retailers
• Web 2.0: Engaging Customer Passion