OfficeMax Grand & Toy to close retail stores as business customers shift to growing e-commerce and direct sales channels

TORONTO, April 23, 2014 /CNW/ - OfficeMax Grand & Toy, an affiliate of global office products provider Office Depot, Inc., today announced that it will close all of its 19 retail stores. OfficeMax Grand & Toy will continue to service its business customers via the company's advanced e-commerce website, award-winning customer service centres and direct sales representatives.

"We are concentrating our efforts on ways to better serve our customers in response to their changing business needs," said Simon Finch, general manager, OfficeMax Grand & Toy. Our customers overwhelmingly prefer an online experience because it offers more products, a constantly growing selection, and convenient door-to-door delivery."

Over the past several years, OfficeMax Grand & Toy has experienced tremendous growth in its online channel. In fact, only three percent of the company's sales come from retail walk-ins. The 19 retail outlets, located in Ontario, Alberta, British Columbia and Manitoba, will begin closing over the next few months. Approximately 160 employees, both full time and part time, will be impacted by the store closures.

"We are working with management across the country to reassign or re-allocate as many employees as possible to other positions within the company," Finch said. "These store closures are a response to a shift in the purchasing preferences of our business customers. OfficeMax Grand & Toy remains one of the largest business-to-business office products providers in Canada, and we will continue to engage and support our extensive business customer base across the country with an exceptional full service direct sales force."

"We are confident that this focused approach will help us enhance our customer experience and grow the business even further," Finch said.

OfficeMax Grand & Toy currently has more than 1,300 employees.

About OfficeMax Grand & Toy
OfficeMax Grand & Toy is an affiliate of Office Depot, Inc. and a leading provider of workplace products and solutions serving business customers in Canada for over 130 years. From the latest technology, interiors and furniture, everyday office supplies and facility resources to a wide range of print and document services, we provide workplace innovation that enables our customers to work better.

About Office Depot, Inc.
Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school or car.

Office Depot, Inc. is a resource and a catalyst to help customers work better. We are a single source for everything customers need to be more productive, including the latest technology, core office supplies, print and document services, business services, facilities products, furniture and school essentials.

The company has combined pro forma annual sales of approximately $17 billion, employs over 60,000 associates, and serves consumers and businesses in 57 countries with more than 2,200 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – all delivered through a global network of wholly owned operations, joint ventures, franchisees, licensees and alliance partners. The company's portfolio of leading brands includes Office Depot, OfficeMax, OfficeMax Grand & Toy, Viking, Ativa, TUL, Foray and DiVOGA.

Office Depot, Inc.'s common stock is listed on the New York Stock Exchange under the symbol ODP. Additional press information can be found at: http://news.officedepot.com/

Additional information about the recently completed merger of Office Depot and OfficeMax can be found at: officedepotmaxmerger.com.

SOURCE: OfficeMax Grand&Toy

Media Contact: Chris Conrath, Environics Communications, [email protected], 416.969.2716