In May of 2014, Office Depot announced its plans to close 400 stores, or about 20 percent of the stores it operates, by the end of 2016, according to CNN. At least 150 stores were closed by the end of 2014.Continue Reading
In 2013, Office Depot had 1,912 locations in North America, and when the company merged with OfficeMax in November 2013, they acquired 823 more stores, reports CNN. Many of the store closings in 2014 were the result of the OfficeMax and Office Depot merger since both companies operated stores in close proximity to each other in several locations.
In early 2015, Staples made a proposal to the Federal Trade Commission to acquire and merge with Office Depot, states Consumerist. As of August 2015, the proposal was still awaiting the Federal Trade Commission's approval. At that time, Office Depot continued to operate about 1,800 stores in North America. They remain committed to closing a total of 400 stores by the end of 2016. Regardless of the proposed merger's approval, Office Depot's plan to close some of its stores is sound because, as with OfficeMax, many Office Depot and Staples stores operate in overlapping territories, according to Consumerist.
The merger was proposed by Staples' parent company, Starboard Value, Consumerist reports.Learn more about Corporations