Talk to us today in confidence0800 970053907833 240747

Office Outlet Goes Into Administration

Written by Robert Moore Marketing Manager 19 March 2019

Be the first to comment

Office Outlet Goes Into Administration

It was just six months ago that insolvency proceedings were underway for the stationary chain, Office Outlet.  They took out a Company Voluntary Arrangement, with plans to close 4 of their 96 stores and have a 3 year rent free period from some of their store landlords. 

It has now been confirmed that the business has gone into administration. 1,200 jobs are at risk. 

Now, Richard Michael Hawes and Daniel Francis Butters at Deloitte have  been appointed Joint Administrators of SUK Retail Limited- trading as Office Outlet and SUK Oldco Limited (“the Companies”). There is no connection here with the online business, trading under the Staples UK name. 

It is understood that the business will continue to trade while a buyer is found. The 90 UK stores will remain - at present.  

The administrators said the falling demand of stationary supplies, joined with the credit term cuts by suppliers, are the cause of the companies collapse. 

There is hope a buyer can be found...but will competition from discounters B&M and the range, provide constraints? Watch this space!

Categories: Retail, Administration, What is administration

Comments

Post a Comment

Please keep your comments relevant. Company Rescue reserves the right to edit or delete comments.

The blog postings on this site solely reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of Company Rescue. All comments are made in good faith, and Company Rescue will not accept liability for them. We may contact you in response to your comment – by submitting your comment, you are consenting to this.

To find out more about how we collect, use and protect your data, please read our privacy policy.

You are currently offline. Some pages or content may fail to load.