STAPLES TO CLOSE CANADIAN STORES AS IT ANNOUNCES 225 NORTH AMERICAN STORE CLOSURES
Staples will close up to 225 North American stores by the end of 2015, and some of these will be in Canada. Nearly half of its sales are now generated online, so it will aggressively cut costs to become more efficient. Staples is seeking to eliminate about $500-million in costs annually by 2015.
It’s unclear how many Canadian staples locations will close, or how many jobs will be affected. The closings amount to about 12% of North American Staples store locations. The company has roughly 2,200 stores worldwide, 1,500 of them in the United States and over 330 in Canada.
We’ll report more as this story develops.
* Correction facebook post . Only 225 of the 1800+ North American Stores will be closing.