The company announced Monday it would close 50 stores throughout its chain, with about half the closings taking place in California, New York, Florida and Louisiana. In addition, expansion plans are being sliced in half, and new Office Max stores will be about 15% smaller at 20,000 sf.
The chain is closing its store at 24725 Southfield Road in the South Ten Plaza, but will have another store in the Detroit suburb at 28229 Telegraph Road.
The Monroe store is at 2121 Monroe St. in the Frenchtown Square Mall in the city south of Detroit. The Benton Harbor store is at 1275 Mall Dr., near Interstate 94, in the city in the southwest corner of the state. Feuer said the chain decided to exit 23 small markets, deciding its expansion there may have been "irrational."
"It doesn't matter how many stores we have," Chairman and Chief Executive Officer Michael Feuer told analysts Monday. "It matters how profitable and productive they are."Landlords of the remaining Office Max stores can expect the chain to play "hardball" in lease renewal negotiations, Feuer said.
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