Office Depot leaving Avon
October 14, 2013
AVON – The local Office Depot is closing its doors and will begin liquidating its inventory on Monday.
The store will close on Dec. 21, employees said.
Office Depot is merging with OfficeMax to create the world's second-largest office supply chain after Staples, and the combined company said it is looking for ways to be more efficient. However, closing the Avon store is not part of that streamlining, the corporation said.
"We consistently evaluate the performance of our stores, and this closing has nothing to do with the merger. It is still to be determined about other store openings in the area," said Rebecca Rakitin, communications manager with Office Depot.
The two companies each have hundreds of stores, some located two miles or less from each other, in locations around the country. There's an OfficeMax in Silverthorne and an Office Depot in Glenwood Springs.
Next door to the local Office Depot, Avon's Sports Authority store is staying put. Staffers in the sporting goods store said they're cranking up for ski season.
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On Thursday the investment analyst Janney upgraded both OfficeMax and Office Depot to a buy rating after analyzing the merger.
The two companies had announced that they hoped to have their merger compete by the end of the year, but that $400 million to $600 million merger is at a standstill with the Federal Trade Commission shuttered by the federal government shutdown.
Osprey Capital, a family-run company based in Chicago, quietly bought up much of the commercial real estate in the older part of Avon.
The purchases include Benchmark Plaza, the Christy Sports building, Nottingham Station, Chapel Square and the Annex, which includes the Office Depot space.
CEO David Hoffmann was unavailable for comment about what business would move into the Office Depot space.
The Hoffmann family, of Chicago, operates Osprey Capital. They have been coming to the valley for more than 30 years and have a home here.
The Hoffmanns said they want to support their existing tenants and bring new businesses to Avon.
Plans include everything from public art to a possible bowling alley and movie theater. Patriarch David Hoffmann said additional businesses could include a men's clothing store, an ice cream or frozen yogurt shop and a hand car wash. The family already owns the nation's fifth-largest executive recruiting business.
Staff Writer Randy Wyrick can be reached at 970-748-2935 and email@example.com.