April 21, 2017
Delawareonline.com reported that Staples has leased 25,000 square feet to incorporate a warehouse and offices and will be supplying its stores and online customers in Delaware from the site.
The site is owned by Harvey, Hanna and Associates who are “excited to have Staples as a tenant”. Staples was represented by Colliers International in the transaction and joins other large companies on the site. This comes after a recent article in The Recycler on the performance of the company’s shares in which Axios debated the outcome of a likely sale.
Axios said that the reasons for the low-priced shares are largely due to online sales of office consumables, mainly by Amazon, and a “declining performance”, and Axios noted that “private equity” did not appear to be interested in big retailers at the present time, and that Staples appear to be “seeking a buyer via the press”.
Wall Street Journal was quoted as saying: “After the [Office Depot] deal collapsed, Staples said it would cut costs and redouble efforts to win more business from midsize companies. But the turnaround strategy, dubbed Staples 20/20, hasn’t yielded significant gains yet.”
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