Wednesday, January 11, 2006


Approximately two months after its largest investor (K Capital Partners LLC) demanded changes, OfficeMax has announced them: 110 stores in the US, 5 in Canada, and the building materials plant in Elma, WA get the ax. No word yet on which stores are closing, but that's a lot of dark anchors. Looks like it's time to dust off my skills at renegotiating leases for tenants and landlords who have big boxes close. Somehow I doubt this will be the last big box retailer who finds it "prudent" to scale back.


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