10 January 2006– Itasca (IL): OfficeMax has announced it will close 110 stores in the US by the end of Q1 2006 and a further five in Canada. The action will result in total charges of $187 million over Q4 2005 and Q1 2006.
Chairman and CEO Sam Duncan said: "Today’s announcement of store closings marks a difficult but necessary step toward improving our company’s overall performance."
The retailer also said it expected to open 70 new stores in 2006.
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