Office Depot to Close 112 Underperforming Retail Stores
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Office Depot says it will close 112 stores over the next three months and open fewer stores in 2009 in an effort to cut costs. I can’t locate a list of store closing, but I was at the local Office Depot here in Missouri yesterday and I was the only person in the store. Not a good sign as I would guess some locations in Missouri will be on that list.
The office-supply retailer will reduce its store base to 1,163. Locations being closed include 45 in the Central U.S, 40 in the Northeast and Canada, 19 in the West and eight in the South. Office Depot also will close six of its 33 North American distribution facilities. In 2009, Office Depot will close 14 stores and open just 20 stores, half of what it had planned.
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