Staples to Close 50 Stores in Preparation for Life With or Without Office Depot

As it awaits the final verdict from regulators on its pending billion-dollar purchase of rival office supply chain Office Depot, Staples is preparing to go it alone by announcing plans to shutter at least 50 of its own stores in order to slow declining sales. The Wall Street Journal reports that while Staples plans to fight to prove its takeover of Office Depot is in the best interest for everyone, it’s also readying a contingency plan by focusing on its own business activities. Chief Executive Ron Sargent says the company has been working on a “Plan B” for several months that would improve the company’s stand-alone performance “despite the fact that we’re focusing all our energies and efforts on getting this acquisition behind us."