Office Depot to Close 112 Stores

Office Depot Inc. (Delray Beach, Fla.) has announced it will close 112 North American stores and will open fewer new locations in 2009. The 20 new sites next year represents half of what the office supplies retailer had planned.

The closings – 45 stores in the Central U.S., 40 in the Northeast and Canada, 19 in the West and eight in the South – will reduce the office supply chain's base to 1163. It plans to close. It will also close six of its 33 North American distribution facilities.

The struggling retailer reported a third-quarter loss due to slumping sales as consumers and small businesses cut back spending in October.