Office Source Sells Itself

Posted by Expert Gadget Reviewer on Wednesday, 15 July 2009

Office Source a national furniture wholesaler, recently announced that they have sold a majority stake of themselves to CIRI which describe itself as an "Alaska Native-owned company with diversified business interests"?? The press release goes onto say that Office Source ran revenues up to $100 Million in it's first four years, but recently became a victim of the recession and corresponding credit crunch (read the release HERE).

For those of us in the Western part of the U.S., Office Source became a "house-hold" name about 3 years ago when they purchased Equipment Distributors (which was a large regional wholesaler).

This "change" in control, with a new "financial" owner now in charge is most likely not a good sign regarding the viability for the Office Source concept. Candidly, There are already two National Wholesalers (United and SP Richards), so I'm not sure the world needs a third.