Companies. Office Depot received

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Office Depot France, which specializes in office supplies, received its placement on Friday, a consequence of the Covid-19 crisis that hampered its transformation plan and created 'significant funding needs'.

'At the end of a hearing before the Lille-Métropole Commercial Court and at the request of the company, Office Depot France announces that it has been welcomed to deal with the major difficulties particularly related to the Covid crisis. 19, which had a direct impact on the transformation plan that the new management initiated when they arrived in March 2019, 'the company said in a statement.

The company employs around 1,750 people in France.

Sales decline by almost 20{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118}

This transformation plan, which should allow the company to raise its head after struggles in recent years, was aimed at returning to profitability in 2021 and 'began to take effect when the health and economic crisis intervened,' assures us Office Depot France.

'However, this unprecedented crisis has stalled the implementation of this transformation plan and created significant funding requirements,' said the company, which saw its sales decline nearly 20{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} in 2020, which has increased its economic troubles.

60 stores

This judicial restructuring 'will enable management, with the support of the procedural bodies, to keep the company running, to give itself time to come up with any solutions that can sustain its operations, but also to expedite the completion of its transformation plan,' the statement said Continuation.

Office Depot France specializes in office equipment and supplies and currently operates 60 branches, e-commerce locations and an integrated logistics center with three warehouses and 22 distribution platforms. This is evident from the information in the press release.