Home LOCAL NEWS Office Depot in Paris to close doors Nov. 14

Office Depot in Paris to close doors Nov. 14

by MyParisTexas
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Office Depot is closing its doors in Paris Towne Center.

The office supplies retailer will permanently close Nov. 14, joining several other businesses in the shopping complex to close recently.

Office Depot announced a restructuring plan on May 15, 2020. It included closing stores and laying off about 13,100 employees by 2023, according to the company’s Securities and Exchange Commission (SEC) filings. The company expects to save $860 million by the end of 2023 and sustain charges of about $543 million. The company estimates that its restructuring plan will be “substantially completed” by 2023.

Office Depot in Paris said they will not be receiving any new shipments before Nov. 14. They say they will be “slashing prices” to sell as much inventory as possible.

Payless Shoes closed their doors late 2019, while J.C. Penney is set to close Oct. 17.

Bealls also closed earlier this month, however, Spirit Halloween will open in the same building Sept. 22.

About Office Depot, from officedepot.com

Office Depot, Inc. (NASDAQ:ODP) is a leading provider of business services and supplies, products and technology solutions through its fully integrated omni-channel platform of approximately 1,400 stores, online presence, and dedicated sales professionals and technicians to small, medium and enterprise businesses.

Through its banner brands Office Depot®, OfficeMax®, CompuCom®, and Grand&Toy®, the company offers its customers the tools and resources they need to focus on their passion of starting, growing, and running their business. For more information, visit news.officedepot.com and follow @officedepot on Facebook, Twitter, and Instagram.

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