The struggling stationery firm, which has stores in Horsham, Chichester, Eastbourne and Brighton, has announced the sale of its UK business to international restructuring specialist Hilco Capital.
Staples said the deal would allow it to focus on North American and mid-market business and its brand would be ‘phased out’ in the UK over the coming months.
It has not been confirmed what the sale will mean for stores in Sussex with a spokesman for the retailer saying: “No announcement has been made regarding any store closings at this time.”
Shira Goodman, chief executive officer and president of Staples, said: “Agreeing to sell our UK retail business to Hilco aligns with our go-forward strategy of focusing on our North American and mid-market business, and is a meaningful step in that process.
“In addition, we continue to make good progress in evaluating strategic alternatives for the remainder of Staples Europe, which will let us streamline our operations, sharpen our focus and more aggressively pursue our mid-market growth strategy.”
Paul McGowan, of Hilco, said: “We are pleased to have concluded a transaction with Staples, Inc. and look forward to working with the UK team.
“While retail in the UK has been challenged recently, a team led by retail veteran Alan Gaynor will work alongside the existing management team to build a plan for success for the business.”
Don’t miss out on all the latest breaking news where you live.
Here are four ways you can be sure you’ll be amongst the first to know what’s going on.
1) Make our website your homepage
2) Like our Facebook page
3) Follow us on Twitter
4) Register with us by clicking on ‘sign in’ (top right corner). You can then receive our daily newsletter AND add your point of view to stories that you read here.
And do share with your family and friends - so they don’t miss out!
Always the first with your local news.
Be part of it.