Popular office supply retailer sold after closing 1,000 stores

Core Insights - The office supply industry has faced significant challenges due to the rise of e-commerce and competition from big box retailers, leading to store closures and mergers [3][4][5] Industry Overview - In the early 1990s, the office supply market was dominated by a few companies, with Staples, OfficeMax, and Office Depot emerging to serve small business owners [2] - The office supply industry revenue has declined at a compounded annual rate of 4% over the past five years, with an estimated revenue of $20.9 billion projected for 2025 [4] Company Developments - Office Depot (ODP) has undergone significant changes, including the acquisition of OfficeMax in 2013 for $1.17 billion, which resulted in a combined revenue of approximately $18 billion [6] - Following the acquisition, ODP has continued to close stores to maintain profitability and has recently targeted the hospitality industry for business-to-business expansion [5] - ODP has been acquired by Atlas Holdings for $1 billion, reflecting the challenges faced in the retail landscape [4][5]