Rebranded Staples to sublet 285,500sq ft of floor space in turnaround effort

Struggling stationery retailer Staples, which is now trading under as Office Outlet, has put floor space in a third of its stores on the market.

The move will see 285,500sq ft of retail space within 35 of Office Outlet‘s 101 stores opened up to other retailers through a sublet scheme.

This follows an announcement last November that Staples would disappear from the high street, seeing its US owner sell the estate to restructuring firm Hilco Capital.

At the start of this year Hilco Capital, which acquired Staples for a nominal sum, rebranded Staples and is now hoping to turn around its financial woes with this sublet scheme.

READ MORE: Staples to disappear from UK high streets putting 1100 jobs at risk

To kick start it, 16,553 sq ft will be made available at the Nelson Industrial Estate in Merton, South London.

Meanwhile 14 other 10,000sq ft spaces are on offer in locations including Poole, Milton Keynes, Plymouth and West Bromwich.

“Office Outlet can confirm that certain parts of 35 stores are due to be sub-let,” a spokesperson said.

“The business will be constantly reviewing its portfolio of stores to ensure the maximum amount of footfall.”

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