OfficeMax Chapter 11 and Store Closings

OfficeMax Chapter 11 and Store Closings

Posted in the OfficeMax Forum

First Prev
of 3
Next Last
Mike

Lorain, OH

#1 Jan 26, 2009
OfficeMax plans to file for chapter 11 in the text few weeks
Mike

Lorain, OH

#2 Jan 26, 2009
*Next
matt

La Grange, IL

#3 Jan 26, 2009
and where did you hear this from mike?
Mike

Lorain, OH

#4 Jan 26, 2009
Someone from corporate
matt

La Grange, IL

#5 Jan 26, 2009
are you talking about corporate naperville?
Do you work at OfficeMax?
Do you think its true?
Mike

Lorain, OH

#6 Jan 26, 2009
Yes I am talking about naperville. I cant say much because of my source I dont want to get the person in hot water. The person works in store operations and they have to prep a conference call to release the information. I was also told by the person that they already leaked some information to the vendors. This person has always been very reliable so yes I think its true. No I dont work for OfficeMax.
interestingnews

Aurora, IL

#7 Feb 4, 2009
If this is true, I am certainly not surprised. They've been in trouble for a long time. There are some very good people there, but with a bad economy and weak top management, this was unavoidable.
hope your wrong

Gainesville, FL

#8 Feb 4, 2009
What would store ops be doing that for ?
sounds like a job for human resources not store ops

I hope your wrong - my kids food depends on it !

but I am a great leader - so God be with me and my great company
OMXSTOREMGR

United States

#9 Feb 4, 2009
Office Max has made the decision to close 30 underperforming stores,including my location. This will result in 300-400 more lay offs as the mgmt and associates at each location can not be absorbed into neighboring locations due to payroll constraints. While Sam Duncan explains to associates via ADVANTAGE TV that the company is scaling back on merit review increases and suspending 401k matching contributions and now closing stores, all while 2 executives have been hired within the past 3 months, seems they wouldnt have money for them either. It is unfortunate that good people have been put into a losing situation with a very poorly run company and executives, I am sure Mr Duncan will receive his $5.2 mil this year though.
Retail -Retail-Retail

Columbia, TN

#10 Feb 5, 2009
OMXSTOREMGR wrote:
Office Max has made the decision to close 30 underperforming stores,including my location. This will result in 300-400 more lay offs as the mgmt and associates at each location can not be absorbed into neighboring locations due to payroll constraints. While Sam Duncan explains to associates via ADVANTAGE TV that the company is scaling back on merit review increases and suspending 401k matching contributions and now closing stores, all while 2 executives have been hired within the past 3 months, seems they wouldnt have money for them either. It is unfortunate that good people have been put into a losing situation with a very poorly run company and executives, I am sure Mr Duncan will receive his $5.2 mil this year though.
What district are you in? When did this news come down?
OMXSTOREMGR

Beaumont, TX

#11 Feb 5, 2009
Since my store is the only one in the district i'd rather not say. It is in Florida though. The news came down 2-2-09, however the Coporate Office has been going through Period 1 PnL's and making determinations since 1/10/09
formerOMX

Forest Park, IL

#12 Feb 5, 2009
i worked for officemax for 13 years and left june 25 when they gave people packages and i got 26 weeks of pay, i will tell u the company is run very badly and this does not surprise me it also would not surprise me if they got bought out or went completly under and soon, the whole company is run bad they took the customer service out of the store a long time ago and boundless selling is a piece of crap and so is SAP and all the new software they spent millions of dollars on instead of spending that money on there own people that work in the stores and who make the company run.
Retail -Retail-Retail

Columbia, TN

#13 Feb 6, 2009
OMXSTOREMGR wrote:
Since my store is the only one in the district i'd rather not say. It is in Florida though. The news came down 2-2-09, however the Coporate Office has been going through Period 1 PnL's and making determinations since 1/10/09
Can you tell me if it's happening on the East Coast or West Coast? Thanks!
mandatory store meetings

Coshocton, OH

#14 Feb 8, 2009
all stores must hold a meeting on the 18th at 8am. Something is going on.
Retail -Retail-Retail

Columbia, TN

#15 Feb 9, 2009
mandatory store meetings wrote:
all stores must hold a meeting on the 18th at 8am. Something is going on.
When did you hear about the mandatory meeting? My store hasn't said anything as of yet. I wonder if it has anything to do with what they are going to announce on the conference call re 2008 earnings Mon. 18th @ 9AM. Did we have mandatory meetings before the last 3 conference calls re: quarterly sales I can't remember? Thanks!!
Retail -Retail-Retail

Columbia, TN

#16 Feb 9, 2009
I'm sorry I meant to say the Omax conference call is on Wednesday the 18th. This seems to put it in-line with the "mandatory store meetings" on the same day.
Retail -Retail-Retail

Columbia, TN

#17 Feb 9, 2009
Mike wrote:
OfficeMax plans to file for chapter 11 in the text few weeks
I think in order for a company to file Chapter 11 they have to have debt to show against their assets and according to Omax they have been telling us for years that they have no short-term or long-term debt. They have always called themselves a debt free company for years, of course I'm sure they aren't going to show us they're entire card hand.
mandatory store meetings

Coshocton, OH

#18 Feb 9, 2009
sorry had my date wrong. the mandatory store meeting came from Corporate last week on the Mgrs Conf Call. The store meeting is Sunday the 15th from 8-10. At least that is what we have been told.
mike

La Grange, IL

#19 Feb 10, 2009
All of u are stupid! The meeting has nothing to do with any stores closings. All of U will still have a job. And no chapter 11.
mike

La Grange, IL

#20 Feb 10, 2009
Stupid, Stupid, Stupid.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 3
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

OfficeMax Discussions

Title Updated Last By Comments
News Why Dictators Make Good Bosses (Dec '11) Dec '15 emily 51
OfficeMaxFeedback.com thoughts and review (Jan '15) Jan '15 jamie99 1
News HP warns Walgreens, OfficeMax on ink sales (Jul '06) Dec '14 PD_Lape 130
News Starboard Said to Plan Push for Staples Merger ... (Dec '14) Dec '14 Gerald Vonberger 1
News Incoming Supervalu CEO Duncan to make $1.5 mill... (Jan '13) Oct '14 fayebryant00 3
News OfficeMax Upgraded by TheStreet to "Buy" (Nov '13) Sep '14 BOYCOTT SODAstream 2
15% "Restock Fee" on defective merchandise!!! D... (Mar '12) Sep '14 Guest 7
More from around the web