In the Matter of Staples/Essendant, Inc., File No. 1810180
The FTC should block the merger of Staples and Essendant. It would lead to still less competition in the already shrunken pool of office supply providers. The result of this merger would be the closure of yet more stores and loss of their jobs, and gouging of businesses small and large by price increases. Part of the FTC's mission is to maintain competition in industry, and this merger would decrease that. Worse, Sycamore Partners, the firm that owns Staples, has already shut down most Nine West stores. And after acquiring and absorbing as much profit from them as they could to make their growth targets, they picked apart companies like Hot Topic and Aeropostale. We should not expect anything different here. The progression is brutal in its callous efficiency: Acquire, Extract, Withdraw, Shut down. Profits are siphoned off, and when the flow slows, the business is killed, along with all of the jobs the company once provided. Please stop this from happening again.