Staples brand to disappear from the United Kingdom

A familiar U.S. retailer will soon make its exit from the U.K. retail scene.



Staples, which operates some 105 stores in the United Kingdom, has agreed to sell its U.K. retail business and operations to Hilco Capital Limited. The use of the Staples brand in the U.K. will be phased out over the coming months.



In May, Staples announced plans to explore strategic alternatives for its European operations as part of its new strategy.



“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,” said Shira Goodman, CEO and president, Staples. “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.”



Hilco did not elaborate on its plans for the Staples stores.

said,



“We are pleased to have concluded a transaction with Staples, Inc. and look forward to working with the U.K. team,” stated Paul McGowan, CEO of Hilco Capital. “While retail in the U.K. 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.”