Office outlet goes into administration

OFFICE supplies chain Office Outlet has gone into administration, putting 1,200 jobs at risk.

The retailer, which has a store in Southampton, will continue to trade as normal until a buyer is found, partners at the multi-national company Deloitte have been appointed joint administrators.

Office Outlet is better known by its former name of Staples. Staples sold all of their UK stores to Hilco Capital in 2016, where it was renamed to Office Outlet and now trades separately from Staples.

Speaking on their UK twitter page, Staples said: “We were sorry to learn of the office supplies retailer Office Outlet business being placed into administration. We would like to reassure you that there is no connection between Office Outlet and Staples UK and our service to you continues as normal.”

The chain attempted to avoid going bust in August last year when they filed for insolvency with the aim of shutting some of their stores.

They were also granted 3-months rent free at 20 of their sites.

This has done little to help the company stay afloat, as Office Outlet seems to be struggling to gather the money to afford the rent on its 90 UK stores.

Office outlet has now become the latest in a string of retailers to be facing financial trouble in recent years. British high-streets have lost names like Toys’R’US, Poundworld, Store Twenty One, Maplin, HMV, and BHS since 2017. This is as well as other names like wholesaler Palmer and Harvey, and the restaurant chain Prezzo.