Stationery retailer goes into administration
By Sarah Wood | 19th March 2019
Office Outlet, the former Staples stationery chain, is in administration, putting 1,200 jobs at risk.
Two partners at business services firm Deloitte were appointed joint administrators earlier this week, as reported by the BBC.
Office Outlet, which has stores in Cheltenham and Gloucester, will continue to trade while a buyer is sought.
The administrators said the retailer had suffered as demand for stationery supplies fell and its suppliers cut its credit terms. But the administrators remain confident that a buyer for the business can still be found.
Office Outlet ran into difficulty last August , when it arranged to close a number of stores through a Company Voluntary Arrangement (CVA).
Former HMV owner, Hilco, bought the UK stores of US-chain Staples in 2016, renaming the chain Office Outlet. Office Outlet is not connected to the online-only business which trades under the Staples name.
Punchline said: "With large showrooms and high rentals, supermarkets nibbling at their heels and the internet sucking up the spend, the writing was always on the wall for Office Outlet."
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