Staples UK Stores Face Uncertain Fate

Despite the rescue deal with powerful hedge funds Cerberus, the future of more than 100 UK staples stores is still a myth.

The American office stationery giant Staples is said to offload its European operations to Cerberus for rescue. According to The Daily Telegraph, the Wall Street-based investment firm will possibly take over Staples’ UK high street stores. However, no agreement has yet been reached on whether to keep the struggling stores open.

Staples’ UK retail operations reported £4.2 million (US$5.14 million) of losses by the end of January 2015. However, its online arm and business-to-business divisions in the UK are still profitable.

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