Thread regarding Follett layoffs

Office space for lease

https://www.loopnet.com/Listing/3-Westbrook-Corporate-Ctr-Westchester-IL/22249399/

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Post ID: @OP+1eFfZxqb

19 replies (most recent on top)

And don't forget about the $20+ million dollars that they lost with the Book Fair disaster.

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Post ID: @7mjg+1eFfZxqb

Yeah, B&T, bought at $20 million, sold for $5 million. Brilliant!
And Higher Ed operating at a $100 million dollar a year loss for 2 years.
Family MUST be really rich to take those kinds of hits.
The whole business enterprise is just sort of a rich man's hobby?

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Post ID: @7zmk+1eFfZxqb

Lest we forget, all the national sales meetings throughout the years, then with the merger with B&T, can anyone guess what the tab was in Las Vegas to reserve 200+ rooms at the Cosmopolitan and the airfare to fly a few hundred people?

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Post ID: @7fyb+1eFfZxqb

So net loss to the family, 41.1 million?
High five MLS, AS, and FON.
Great Job, better than Google!

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Post ID: @6yir+1eFfZxqb

So net loss to the family, 41.1 million?
High five MLS, AS, and FON.
Great Job, better than Google!

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Post ID: @6vdk+1eFfZxqb

So net loss to the family, 41.1 million?
High five MLS, AS, and FON.
Great Job, better than Google!

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Post ID: @6fyz+1eFfZxqb

So the Duchossois family is a bit shrewder than the Follett family in making investments?

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Post ID: @6smj+1eFfZxqb

According to public records,Follett got $7.9 million in the sale of the Oak Brook Office,they spent $49 million renovating the Westbrook office they lease.

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Post ID: @6xgk+1eFfZxqb

I'm guessing the family got a good amount when they sold the Oak Brook office,

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Post ID: @6zsj+1eFfZxqb

Wonder how the family feels about the money they sunk into someone else's building. Think if they had dispersed it among the family share holders.

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Post ID: @5lnn+1eFfZxqb

A buddy of mine who works for BNED said the same thing is happening with their home office. The space is now up for lease and everyone is working remotely now. According to Google Maps, the building where they had their home office held BNED and a law firm. A property search shows that address has 1 floor for lease. That just makes me laugh that Follett had 7 floors. I mean, I get that BNED is smaller than Follett, but 7 floors? Yeah, ego.

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Post ID: @4jbz+1eFfZxqb

The Ivory Tower is a testament to ego and inherited wealth. The death knell for the overall was naming TL Chairman and allowing him to think he’d earned it. The kiss of death for Higher Ed was merging Wholesale into Retail and hiring its senior leaders from failing retailers then allowing them to hire their minions. No market knowledge. No meaningful oversight from the Board. No earned respect from the skipped over tenured employees. Absolute arrogance and the few of them left inclusive of TL are still blind to all of that.

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Post ID: @2mkh+1eFfZxqb

You can faintly hear taps echoing the halls.

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Post ID: @1vhr+1eFfZxqb

MLS really screwed over the family!
What will happen with the AOH state the art Board Room?
Pity

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Post ID: @1txu+1eFfZxqb

Virtual tour, floor nine, the fighting Irish stickers on CFO office reminds me of a 70s song, Too much, too little, too lateā€¦

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Post ID: @1sep+1eFfZxqb

Maybe they don’t need all that space, but ALL seven floors are up for lease. All that modern design..... all that decorating money...... wonder how much the tree mural cost? Or the fancy open concept desks....

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Post ID: @1lwe+1eFfZxqb

That posting has been out there for months. With Covid, there are less people in the office so a lot of open space. Why pay for all of those floors?

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Post ID: @1goi+1eFfZxqb

Haven't you heard? TL is selling Follett as of 1 FEB 2022.

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Post ID: @xuj+1eFfZxqb

Where is TL going to hang his hat?
So sad!

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Post ID: @bgm+1eFfZxqb

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