Office Depot, Staples Look for a Way Out of India

U.S. office supplies retailers Office Depot and Staples are having a tough time in India, and are either on the verge of shuttering their stores or selling them off, according to The Economic Times. Indian player Reliance Retail is closing down all four outlets of Office Depot, while Staples is looking at selling off 49 percent of its stake. Staples has a cash-and-carry arrangement with Future Retail, which operates the supermarket chains Big Bazaar and Pantaloon.