Hot off the presses, is Grand and Toy to be sold?Did you know Staples (USA) owns Corporate Express, Office Max (USA) owns Grand and Toy, Lyreco is European and Office Depot (USA) stock is down over 90% since last year on allegations of overcharging customers millions. Thanks for supporting Costless - your local Canadian office products supplier!
Here is the news posted today on our industry news wire.
According to sources within the Canadian OP industry, OfficeMax subsidiary Grand & Toy could be preparing itself to be sold off.Cheers,
Sources close to the company have said that a complete and unscheduled inventory of fixed assets has been taking place and this, along with recent cost reduction activity, would suggest a period of due diligence.
Early betting had Lyreco established as the firm favourite, with other potential buyers either lame (Office Depot) or not even at the races (Staples).
Any deal would also ease OfficeMax’s own cash worries as it struggles to cope with falling sales and margins.
Calvin
