Major office supply retail chain closes another 100 stores.

Core Insights - The Covid pandemic highlighted the decline in relevance of office supply stores like Office Depot and Office Max, as consumers turned to alternative sources for essential items like toilet paper [3][4][5] - The shift towards e-commerce and changing consumer habits have significantly impacted the demand for traditional office supplies, leading to store closures and reduced foot traffic [8][9] Group 1: Decline of Office Supply Stores - Office supply stores have become less essential over time due to changing consumer habits and increased competition from e-commerce giants like Amazon and Walmart [4][8] - The chains have closed over 1,110 stores since 2013, with more closures likely as the market continues to evolve [7][8] - The decline in demand for office supplies is attributed to the rise of remote and hybrid work models, which have reduced the need for in-store purchases [8] Group 2: Financial and Operational Changes - ODP Corporation, which owns Office Depot and Office Max, is undergoing a transition to private ownership under Atlas Holdings, aiming for operational efficiency and a leaner cost structure [9][10] - The move to go private may allow ODP to focus on long-term investments in various business areas, potentially strengthening its market position [10] - Financial strain from falling sales has led to restructuring efforts and a planned acquisition by Atlas Holdings [8][9]