Depot announces European departures



Further to OPI speculation that Office Depot is to close its retail operations in Spain, we can now confirm the departure thanks to a leaked internal document from the company.
The document, sent to all Office Depot employees in Europe on 12 September 2005, confirms that the company will close its retail activities in Spain and its mail order operation in Portugal from the beginning of 2006.
On 12 September, Office Depot announced plans to close 16 stores in North America at the cost of $30.1 million, and has confirmed plans to shut 11 retail stores and one warehouse in its international division.
The OP superstore will also relocate one international warehouse, consolidate some call centre facilities and end its contract business in one country.
Depot has also said that it will take $320 million in charges from store closures and asset write-downs, following the strategic review of its operations.