Systemax, the parent company of TigerDirect, is to close its retail stores tro focus wholly on selling online. The cost saving measures will see 31 out of 34 stores close with the loss of all associated jobs as well as the closure of one of the business’ distribution centres. “We’ve made the decision to primarily serve the consumer markets around the ecommerce platform and exist substantially all of our bricks-and-mortar consumer retail stores.,” commented Richard Leeds, chairman and CEO of Systemax.
Systemax posted US $ 912.9 million sales in the three months to December 2014 with retail sales having fallen by 1.6 per cent whereas sales to businesses increased by 7 per cent. Systemax has over 5000 employees around the world.
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