The pandemic is causing a new victim: the company Office Depot France has gone into receivership. The transformation plan launched in 2019 did not have time to take effect.
Hard blow for Office Depot France. The company has announced its placement in receivership with the Lille commercial court, “ in order to face the major difficulties linked in particular to the Covid-19 crisis which directly impacted the transformation plan launched by the new management upon its arrival in March 2019 », Explains the management in its press release. When she arrived, she had effectively launched a plan to return to profitability from 2021. Office Depot France had not waited for the COVID-19 epidemic to encounter problems, but the explosion of cases of contamination and the measures taken to eradicate it have overcome these efforts. However, the transformation plan was beginning to produce its first effects …
Loss of turnover
Office Depot France employs 1,750 people, and operates 60 stores. The company also manages e-commerce sites, an integrated logistics center comprising three warehouses, as well as 22 distribution platforms. Assets while millions of French people who work from home need to equip themselves with office equipment. But the difficulties before the health crisis were too heavy a burden. And the outbreak of the epidemic last spring caused a loss of turnover of almost 20% last year.
Sustain the activity
The receivership should allow management to continue operating the business and give management time to ” bring out all solutions likely to sustain its activities but also to accelerate the completion of its transformation plan “. Office Depot France is added to the growing list of these companies which have not been able to cope with the consequences of the pandemic, despite state aid (short-time working, guaranteed loans, solidarity funds, etc.). An example which should unfortunately be repeated throughout the year.