In the Matter of Staples/Essendant, Inc., File No. 1810180 #01560

Submission Number:
01560
Commenter:
Christine Klunder
State:
Washington
Initiative Name:
In the Matter of Staples/Essendant, Inc., File No. 1810180
Private equity funds have had a devastating effect on retail across America. When one such fund closed Toys R Us last year, 31,000 people immediately lost their jobs. It took a mass public mobilization to get them severance. But that doesn't stop the long-term damage to communities of a major store closure.2 In many cases private equity funds also try to eliminate the competition. In this case, a private equity fund that owns Staples wants to merge it with another office supply company. The result will be to kill off competition -- and eventually, kill off another successful retailer. Don't let this happen!!!