In the Matter of Staples/Essendant, Inc., File No. 1810180 #02525

Submission Number:
02525
Commenter:
trudy kletsky
State:
New York
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. 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."