The future of the Altrincham branch of Office Outlet is in doubt after the company went into administration.
Partners at Deloitte were appointed joint administrators yesterday.
The Altrincham store – located on the Altrincham Retail Park – is one of 90 UK stores operated by the company, which is part-owned by Hilco, the former HMV owner.
All stores will continue to trade while a buyer is sought. A total of 1,200 people are employed by the company.
“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,” joint administrator Richard Haws said.
“We are hopeful a buyer can still be found for the business in the coming weeks and we will continue to trade the business with that aim in mind.”
Hilco bought the UK stores of US-chain Staples in 2016, renaming it Office Outlet.
Chief executive Chris Yates had led a management buyout of the company last September.
“Over the last two years the business has been transformed from the heavily loss-making old Staples business to a near break even modern multichannel retailer,” Yates said.
“However, additional growth capital was required to continue delivery of the next stage of the management buyout business plan. Despite being highly impressed by the Office Outlet story potential investors have held back due to retail sector sentiment and the general level of uncertainty.”
The retailer is not connected to the online-only business which trades under the Staples name.
