TORONTO, April 25 Canadian office supply firm
Grand & Toy is closing all of its retail outlets and will serve
customers via direct sales and online, said its parent company,
In a statement posted on its Canadian website, OfficeMax
said the closures of the 19 stores would affect 160 of its more
than 1,300 workers in Canada.
It noted that only three percent of Grand & Toy sales were
from walk-in business at stores.
"These store closures are a response to a shift in the
purchasing preferences of our business customers," OfficeMax
Grand & Toy General Manager Simon Finch said in the statement.
He added that the company remains one of the largest office
products providers in Canada.
Last month, the top U.S. office supply retailer, Staples Inc
, said it would close up to 225 stores in the United
States and Canada, about 12 percent of its North American
Staples and No. 2 rival Office Depot Inc, which
bought OfficeMax last year for $976 million, have been
struggling to keep shoppers from turning to mass market
merchants such as Wal-Mart Stores Inc and online
retailers like Amazon.com Inc.
In Canada, retailers have mostly lagged the United States in
ecommerce, but companies are increasingly investing in online
infrastructure amid growing competition from rivals.
Grand & Toy was launched in 1883 in Toronto by James Grand
and his brother-in-law, Samuel Toy. It was acquired by Boise
Office Solutions - now OfficeMax - in 1996.
(Reporting by Solarina Ho; Editing by Paul Simao)