Office Outlet enters administration
| 19 March, 2019
Following the news last week that Office Outlet, formerly the retail arm of Staples UK, called in advisers to examine restructuring options, the company has now entered administration.
Office Outlet has appointed Partners at Deloitte as joint administrators, with stores continuing to trade while the business looks for potential new owners.
Joint administrator Richard Haws said: “In addition to a general downturn in trading as a result of the ongoing decline in the stationery market and UK retail in general, the company has recently experienced a reduction in credit from key suppliers, given the economic outlook which has severely impacted the financial position of the company."