In a move that comes as no surprise, Office Depot store closings were announced for 2009. All told, the company plans to shutter 112 stores in the U.S. and Canada as the result of a continuing bad economy and slow demand for office supplies.
In addition, Office Depot will shut down 6 of its 33 distribution centers. It will also allow the leases to expire on another 14 stores in 09′.
The Delray Beach, FL based company did say they still plan to open 20 new locations in the coming year, but that is down from an original 40+ they had planned on opening.
Office Depot stock shares have fallen over 80% since Jan, 08′ as sales have tumbled across the board.
The company did not mention how many jobs would be lost, but it is believed to be upwards of 2,000+.