In the Matter of Staples/Essendant, Inc., File No. 1810180 #00785

Submission Number:
00785
Commenter:
Allison Broesder
State:
Minnesota
Initiative Name:
In the Matter of Staples/Essendant, Inc., File No. 1810180
I urge the FTC to reject the ability of private equity funds to buy up corporations like Staples, Toys R. Us or Sears/KMart. I work for a company that has endured this very process and we are enduring the effects of those consequences. My store chain has had to file for bankruptcy after a private equity firm bought the store chain, loaded it with debts, and then started to shed stores and jobs after these things failed to draw in a buyer. Seeing Staples facing this as a possible future despite their profitability is concerning. Brick and mortar retail is collapsing not due to e-commerce or Internet shopping, but due to mismanagement and callous business decisions that affect workers and customers. Americans deserve a healthy business economy that actually thrives through good decision making and fair and equitable practices. The goal of a private firm like the one trying to acquire Staples does not seek that as their goal. They only desire to make as money as possible, poach from the company, and then dump or destroy it when everything has been stripped. This practice MUST be stopped. I urge the FTC to prevent more of these private equity firms from doing this to companies like the one I work for and for others who depend on companies impacted by these practices.