Uk’s Osbornes Stationers Files For bankrupcy

[Anonymous]

Uk's Osbornes Stationers Files For bankrupcy
By Andy Braithwaite
Osbornes Stationers, one of the leading regional office supplies retailers in the UK, has gone into administration.

Office Friendly member Osbornes has 20 stores in the Midlands region of the UK and employs about 140 staff. Its roots go back to 1832 when a printing business was founded in Birmingham by Edward Osborne.

The business was sold to management in 2008 and its sales are thought to be in the region of £4 million ($6.5 million).

According to administrators FRP Advisory, continued losses and cash flow problems over the past two years forced Osbornes' directors to seek administration. FRP said it would manage the business as a going concern as it looked to find a buyer, but OPI understands that the directors have already left the company and there must be some doubt as to whether the firm will be saved.

This latest casualty in the office products sector underlines the enormous challenges facing the office supplies retail channel.

Uk's Osbornes Stationers Files For bankrupcy
By Andy Braithwaite
Osbornes Stationers, one of the leading regional office supplies retailers in the UK, has gone into administration.

Office Friendly member Osbornes has 20 stores in the Midlands region of the UK and employs about 140 staff. Its roots go back to 1832 when a printing business was founded in Birmingham by Edward Osborne.

The business was sold to management in 2008 and its sales are thought to be in the region of £4 million ($6.5 million).

According to administrators FRP Advisory, continued losses and cash flow problems over the past two years forced Osbornes' directors to seek administration. FRP said it would manage the business as a going concern as it looked to find a buyer, but OPI understands that the directors have already left the company and there must be some doubt as to whether the firm will be saved.

This latest casualty in the office products sector underlines the enormous challenges facing the office supplies retail channel.

[Author]

December 12, 2013 at 11:31 AM