Stationery Giant Office Outlet Plunges into Administration – 1,200 Jobs on the Line!
Office Outlet has officially entered administration today, sparking fears for 1,200 jobs nationwide and throwing its planned move to the Isle of Wight into serious doubt. The popular stationery chain, boasting around 90 stores UK-wide, was born when the once-mighty Staples folded offline and was scooped up by Hilco Capital back in 2016.
Company’s Future in Tatters After Management Shake-Up
Just last September, Office Outlet changed hands again under a Company Voluntary Arrangement (CVA) to keep the business afloat. But trouble was brewing long before, with “closing down” signs appearing in stores at the end of 2018.
Uncertain Times Ahead
Today’s grim announcement has thrown all previous plans into chaos. Joint administrator Richard Haws commented on the state of play, signalling tough times ahead for the stationery retailer and its 1,200 employees.
