Office Depot to Close 112 Stores

It is a dark day when one of the biggest Office shops have to start closing their stores. Office Depot which is one of the 2 biggest Office Retailers in the country seems to be shrinking more and more everyday. As Office Depot closes more of it's stores Staples looks to take advantage of it.

I wonder what this is going to do to their stock?

Office Depot Inc. will close five of its seven stores in Massachusetts as part of a larger strategic review that will result in the closing of 112 underperforming stores in North America over the next three months.

Office Depot is an office supplies retailer with headquarters in Florida and a rival of Staples Inc. of Framingham.

When the store closings are completed, the chain will have 1,163 stores in North America, said Office Depot, which added that 40 of the store closings will be in the Northeast and Canada.