OfficeMax is an American office supplies retailer founded in 1988. It is now a subsidiary of Office Depot, Inc., which is headquartered in Boca Raton, Florida. As of December 2012, OfficeMax operated 941 stores in 47 states, Puerto Rico, the U.S. Virgin Islands and Mexico. In 2012, net sales were $6.9 billion, down from $8.3 billion in 2008. On February 20, 2013, an all-stock merger between Office Depot and OfficeMax was announced. The merger was completed on November 5, 2013, creating the largest U.S. office-supplies chain. The OfficeMax name continues to serve as a brand of the newly formed Office Depot, Inc. On April 1, 1988, OfficeMax was founded in Cleveland, Ohio, by Bob Hurwitz and Michael Feuer. Hurwitz served as executive chairman and chief executive officer, and Feuer was the president and chief operating officer. On July 5, 1988, OfficeMax opened its first retail store in the Golden Gate Shopping Center in Mayfield Heights, Ohio; after being open for 27 years, this location closed on May 16, 2015. Hurwitz left the company in 1993 and Feuer became the chairman and chief executive officer.