Wednesday, 19 December, 2018

ADVEO files an insolvency proceeding

Pan-European business supplies and stationery wholesaler ADVEO has filed for an insolvency proceeding after its lenders withdrew their support for…

Depot turnaround still a work in progress

Office Depot’s third quarter earnings results this week certainly caught the eye of Wall Street and the US media as…

Industry Week gaining momentum

As many OPI readers probably know, the Business Solutions Association (BSA), the US trade association comprising manufacturers, wholesalers and manufacturer…

Analysis: Double-whammy hit ACCO’s Q3 results

ACCO’s Q3 performance in the US nosedived largely as a result of issues in the wholesaling channel and economic factors…

Mixed quarter for Essendant

US wholesaler Essendant has reported profit improvement in its third quarter results, but the top-line in the office reseller channel…

Staples secures Essendant shares

A potential banana skin in Staples’ attempt to acquire Essendant has been avoided after a majority of Essendant’s shares were…

ADVEO in creditor protection after Staples talks collapse

European business products wholesaler ADVEO has entered pre-insolvency proceedings after negotiations between its lenders and Staples Solutions ended without an…

UK distributor enters administration

UK IT and EOS distributor Beta Distribution has gone into administration, OPI has learned. Rumours began circulating at the end…

Genuine Parts sues Essendant

Genuine Parts Company (GPC) has filed a lawsuit against Essendant, accusing the latter of “deceptive conduct and breaches of its…

Improved profitability at EVO

UK and Ireland office products group EVO – which includes wholesaler VOW and reseller Banner – has revealed EBITDA growth…

Dealer organisations unite for FTC letter

Four leading independent dealer organisations in the US have joined forces to voice their concerns to the Federal Trade Commission…

Exclusive: Essendant will remain independent, says Staples CEO

Staples CEO Sandy Douglas has told OPI that the reseller “fully intends” for Essendant to be run independently after it…

Further steep declines at ADVEO

ADVEO’s delayed half-yearly results point to worsening Q2 trends for the European wholesaler. Back in May, the wholesaler reported disappointing…

Staples begins tender offer for Essendant shares

Staples Inc has announced the commencement of its tender offer for all outstanding shares of Essendant common stock. It’s not…

Staples deal for Essendant confirmed

The acquisition of US office products wholesaler Essendant by Staples in a deal worth almost $1 billion has been confirmed.…

No counterbid for Essendant, says Genuine Parts

Genuine Parts (GPC) has said it intends to let its SP Richards (SPR) merger agreement with Essendant terminate rather than…

Essendant board recognises new offer from Staples

Essendant’s board of directors has deemed that an improved offer from Staples constitutes a “superior proposal” to the proposed transaction…

Analysis: The ball now in Essendant’s court

While US Open tennis stars struggle to cope with the sweltering conditions in New York, Staples Inc has turned up…

Staples urges Essendant shareholders to vote against SPR deal

Staples Inc has filed regulatory documents with the US Securities and Exchange Commission (SEC) urging Essendant’s shareholders to vote against…

Office Outlet confirms CVA

In an update to yesterday’s Office Outlet article, the retailer has now revealed more details on the restructuring of its…

Big read

Tariff relief for OP industry?

Despite an apparent 90-day ceasefire on the trade war between the US and China, uncertainty still reigns. Scheduled to be…