Stationery chain Office Outlet reveals list of 16 store closures as 161 jobs to go in CVA

Office Outlet, the stationery retailer formerly belonging to Staples, has revealed the location of 16 store closures following its collapse into administration.

The troubled high street retailer, which has drafted in administrators from accountancy firm Deloitte, revealed today that 161 jobs and 16 outlets face the axe.

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The stationery giant approved a controversial restructuring process in August, known as a company voluntary arrangement (CVA), which included a three-year rent holiday for a number of its stores.

Richard Hawes, joint administrator, said: "While we are still open to a sale of the business in part or in whole, we cannot continue trading all the stores indefinitely in an administration process. Regrettably therefore we are announcing store closures that will result in a number of redundancies. We will be keeping staff informed of further developments in the coming weeks in what is a difficult time for all those involved."