Office Outlet, the stationery retailer formerly known as Staples, has confirmed plans to launch a company voluntary arrangement (CVA) including store closures. The proposals will also see the retailer request rent-free periods from landlords.
The retailer has outlined plans to close four of its 96 UK stores during the latter part of 2018 as part of the CVA and request a three-year rent-free period from landlords across a further 20.
Deloitte has been appointed as nominee for the CVA by owner Hilco, the restructuring company which acquired and rebranded the chain in 2016. Office Outlet has spent the last two years carrying out an operational re-organisation, 35 of its larger stores have been divided and sublet into smaller units.
You must be logged in to view premium stories.
Take out a print and online or online only subscription and you will get immediate access to:
To get access to premium content subscribe today
Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts